Starting at 10:00 PM on August 9, 2023, OKX will update the way it calculates the maximum transfer amount for users operating under Portfolio Margin (PM) account mode. This enhancement is designed to improve capital efficiency and provide a more seamless trading experience by incorporating net positive option value as eligible collateral.
This change means that long option positions with positive intrinsic or extrinsic value will now contribute toward increasing a user’s maximum allowable transfer from their trading account—subject to specific risk-based adjustments. These updates align with OKX’s ongoing efforts to optimize risk management frameworks while empowering advanced traders with greater flexibility.
How Net Positive Option Value Supports Max Transfer Amounts
Currently, in PM account mode, only certain asset types are recognized as valid collateral when calculating the maximum amount users can transfer out of their trading accounts. Long option positions—despite holding measurable market value—are not factored into this calculation.
After the adjustment, net positive option value will be included as part of a user’s usable collateral base. This means traders who hold in-the-money (ITM) or out-of-the-money (OTM) options with positive market value may see an increase in their max transfer limits.
However, to maintain system stability and manage risk exposure during volatile market conditions, several protective measures are applied:
- Liquidity discount: All long option values are multiplied by a liquidity coefficient to reflect potential slippage and execution challenges in fast-moving markets.
- Delta-based discounting: For OTM options, an additional discount factor between 0 and 1 is applied based on the option’s Delta. Options with lower Delta (i.e., lower probability of expiring ITM) receive higher discounts.
- Capped contribution: There is a predefined upper limit on how much net long option value can contribute toward max transfer amounts within each PM account.
These safeguards ensure that while users benefit from improved capital utilization, systemic risks remain tightly controlled.
👉 Discover how smarter collateral use can boost your trading flexibility.
Temporary Suspension of Option Value Inclusion During Market Stress
To protect users and the platform during periods of extreme volatility or abnormal market behavior, OKX reserves the right to temporarily disable the feature that allows option values to support max transfer amounts.
When such conditions are detected—such as sharp price swings, low liquidity, or erratic implied volatility—the system will automatically pause the inclusion of option values in transfer calculations. During these intervals:
- Users can still initiate transfers based on traditional collateral assets (e.g., spot balances, futures margin).
- The core functionality of the PM account remains fully operational.
- Transfers are processed without considering any long option positions.
Once market indicators normalize and stability returns, the option value support feature will be automatically reactivated for all eligible users.
It’s important to note that this temporary suspension only affects max transfer calculations. Other key metrics such as Adjusted Equity, In Use Margin, and Cross Margin Ratio remain unaffected and continue to reflect real-time portfolio health.
Why This Update Matters for Advanced Traders
For sophisticated traders using complex derivatives strategies—such as spreads, straddles, or covered calls—this update represents a meaningful improvement in capital efficiency. Previously, even valuable long-dated or deep ITM options were excluded from transfer capacity calculations, limiting liquidity access despite strong portfolio positions.
Now, those holdings can actively support higher transfer limits, allowing traders to:
- Rebalance portfolios across platforms more efficiently
- Meet external funding needs without forced liquidations
- Take advantage of time-sensitive opportunities in other markets
This change reflects a broader trend in digital asset trading platforms moving toward more holistic, risk-aware portfolio modeling—similar to practices used in traditional finance.
👉 See how advanced margin models can work for your trading strategy.
Frequently Asked Questions (FAQ)
Q: When will this change take effect?
A: The updated calculation method goes live at 10:00 PM on August 9, 2023. No user action is required—the system will apply the new rules automatically.
Q: Does this mean I can transfer more money immediately?
A: If you hold long options with positive net value, your max transfer amount may increase. However, actual increases depend on factors like liquidity coefficients, Delta adjustments, and account-specific caps.
Q: What happens if the option value feature gets disabled?
A: You can still transfer funds based on your existing non-option collateral. Only the portion previously supported by long options will be excluded during the pause.
Q: Are all types of options eligible?
A: Yes, both call and put options are considered, provided they have a net positive market value. Perpetual and futures options on OKX are included under this policy.
Q: Is there a risk I’ll lose access to my funds?
A: No. This update affects only the calculation of maximum transferable amounts. Your assets remain secure, and standard withdrawals are always possible within existing limits.
Q: Where can I check my updated max transfer amount?
A: After the change takes effect, you can view your current max transfer limit in the Account section of the OKX trading interface under Portfolio Margin mode.
This strategic update underscores OKX’s commitment to delivering institutional-grade tools that enhance user control and capital agility. By recognizing option value as part of a trader’s effective equity—while applying prudent risk controls—the platform bridges the gap between innovative finance and responsible trading practices.
As digital markets evolve, features like these help position OKX as a leader in advanced trading infrastructure for both retail and professional investors.
👉 Explore next-generation trading tools built for performance and precision.