{"id":2917,"date":"2025-11-01T07:47:09","date_gmt":"2025-11-01T07:47:09","guid":{"rendered":"https:\/\/pi42.com\/blog\/?p=2917"},"modified":"2025-11-20T08:43:37","modified_gmt":"2025-11-20T08:43:37","slug":"option-spread-strategies","status":"publish","type":"post","link":"https:\/\/pi42.com\/blog\/option-spread-strategies\/","title":{"rendered":"Understanding Option Spread Strategies: Cross Margin vs. Portfolio Margin"},"content":{"rendered":"\n<p>When trading option spreads, understanding how different margin modes affect your capital efficiency is essential. Let\u2019s explore the differences between Cross Margin and Portfolio Margin using a Bear Put Spread as an example.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_76 ez-toc-wrap-left counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<label for=\"ez-toc-cssicon-toggle-item-69d620729b2d4\" class=\"ez-toc-cssicon-toggle-label\"><p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-cssicon\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d620729b2d4\"  \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/pi42.com\/blog\/option-spread-strategies\/#bear-put-spread-example\" >Bear Put Spread Example<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/pi42.com\/blog\/option-spread-strategies\/#cross-margin-mode\" >Cross Margin Mode<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/pi42.com\/blog\/option-spread-strategies\/#portfolio-margin-mode\" >Portfolio Margin Mode<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/pi42.com\/blog\/option-spread-strategies\/#conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"bear-put-spread-example\"><\/span>Bear Put Spread Example<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Imagine Bitcoin (BTC) is trading at $20,250. A trader executes the following trades:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Contracts<\/strong><\/td><td><strong>Qty<\/strong><\/td><td><strong>Entry Price<\/strong><\/td><td><strong>Mark Price<\/strong><\/td><\/tr><tr><td>BTC-22JUL22-18500-P<\/td><td>\u22121<\/td><td>280<\/td><td>290<\/td><\/tr><tr><td>BTC-22JUL22-20000-P<\/td><td>1<\/td><td>760<\/td><td>750<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>Let&#8217;s take a look at the difference between the maintenance margin required by trading the same investment portfolio in the cross margin and portfolio margin modes.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"cross-margin-mode\"><\/span>Cross Margin Mode<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In the cross-margin mode, traders need to pay premiums for buying Options, while a seller of Options can receive the premium paid by the buyer. However, the seller&#8217;s USDC Derivatives account will be occupied with the corresponding margin.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Contracts<\/strong><\/td><td><strong>Direction<\/strong><\/td><td><strong>Premium<\/strong><\/td><td><strong>Maintenance Margin Required<\/strong><\/td><\/tr><tr><td>BTC-22JUL22-18500-P<\/td><td>Sell<\/td><td>\u2212280 USDC<\/td><td>2,315 USDC*<\/td><\/tr><tr><td>BTC-22JUL22-20000-P<\/td><td>Buy<\/td><td>760 USDC<\/td><td>&#8211;<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>*The maintenance margin required to sell BTC-22JUL22-18500-P is calculated as follows:<\/p>\n\n\n\n<p>Position MM = [Maximum (0.03 \u00d7 20,250, 0.03 \u00d7 290) + 290 + 0.2 % \u00d7 20,250] \u00d7 1 = 938 USDC<\/p>\n\n\n\n<p>Position IM = Maximum [(Maximum (0.15 \u00d7 20,250 \u2212 (20,250 \u2212 18,500), 0.1 \u00d7 20,250) + Maximum (280, 290) \u00d7 1), Position MM] = 2,315 USDC<\/p>\n\n\n\n<p>The total occupied initial margin in cross margin mode is 2,315 USDC. Therefore, when a trader uses a spread strategy to trade Options in the cross margin, the funds occupied are often close to the margin pledged by selling Options.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"portfolio-margin-mode\"><\/span>Portfolio Margin Mode<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Under the Portfolio Margin, the required maintenance margin is calculated based on the Maximum Loss and Contingency Component.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Risk Parameter, Preset Price Range of Underlying and the Preset Volatility Percentage of each Option are displayed in the table below:<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><\/td><td><strong>BTC-Options<\/strong><\/td><td><strong>ETH-Options<\/strong><\/td><\/tr><tr><td>Risk Parameter&nbsp;<\/td><td><br>15%<\/td><td><br>15%<\/td><\/tr><tr><td>Preset Price Range<\/td><td>(0, \u00b1 3%, \u00b1 6%, \u00b19%, \u00b112%, \u00b115%)<\/td><td>(0, \u00b13%, \u00b16%, \u00b19%, \u00b112%, \u00b115%)<\/td><\/tr><tr><td>Preset Volatility Percentage&nbsp;<\/td><td><br>(-28%, 0%, 33%)<\/td><td><br>(-28%, 0%, 33%)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>Taking BTC-Options as an example, let&#8217;s take a look at the profit and loss for the preset 33 scenarios.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Preset Price % and Preset Volatility %<\/strong><\/td><td><strong>Total P&amp;L&nbsp;<\/strong><\/td><td><strong>BTC-22JUL22-18500-P<\/strong><\/td><td><strong>BTC-22JUL22-20000-P<\/strong><\/td><\/tr><tr><td rowspan=\"3\">-15%&nbsp;( \u221228%, 0%, 33%)<\/td><td>625.7977<\/td><td>\u22121,684.48<\/td><td>2,310.27<\/td><\/tr><tr><td>963.6231<\/td><td>\u22121,087.65<\/td><td>2,051.27<\/td><\/tr><tr><td>782.9313<\/td><td>\u22121,335.70<\/td><td>2,118.63<\/td><\/tr><tr><td rowspan=\"3\">\u221212%&nbsp;( \u221228%, 0%, 33%)<\/td><td>644.5096<\/td><td>\u2212937.9115<\/td><td>1,582.42&nbsp;<\/td><\/tr><tr><td>510.8202<\/td><td>\u22121,326.74<\/td><td>1,837.56&nbsp;<\/td><\/tr><tr><td>833.5652<\/td><td>\u2212622.7477<\/td><td>1,456.31<\/td><\/tr><tr><td rowspan=\"3\">\u22129%&nbsp;( \u221228%, 0%, 33%)<\/td><td>628.6553<\/td><td>\u2212261.0196<\/td><td>889.6749<\/td><\/tr><tr><td>484.2928<\/td><td>\u2212607.9572<\/td><td>1,092.25<\/td><\/tr><tr><td>391.1666<\/td><td>\u22121,016.33<\/td><td>1,407.50<\/td><\/tr><tr><td rowspan=\"3\">\u22126%&nbsp;( \u221228%, 0%, 33%)<\/td><td>271.8561<\/td><td>\u2212751.9431<\/td><td>1,023.80<\/td><\/tr><tr><td>370.5319<\/td><td>\u221211.2155<\/td><td>381.7475<\/td><\/tr><tr><td>314.7622<\/td><td>\u2212345.7032<\/td><td>660.4654<\/td><\/tr><tr><td rowspan=\"3\">\u22123%&nbsp;( \u221228%, 0%, 33%)<\/td><td>149.5752<\/td><td>\u2212146.0243<\/td><td>295.5996<\/td><\/tr><tr><td>157.4447<\/td><td>\u2212530.7827<\/td><td>688.2275<\/td><\/tr><tr><td>106.6142<\/td><td>140.39<\/td><td>\u221233.7758<\/td><\/tr><tr><td rowspan=\"3\">0%&nbsp;( \u221228%, 0%, 33%)<\/td><td>\u2212115.2825<\/td><td>221.0102<\/td><td>\u2212336.2927<\/td><\/tr><tr><td>0.386<\/td><td>\u22120.2897<\/td><td>0.6758<\/td><\/tr><tr><td>51.5862<\/td><td>\u2212348.9699<\/td><td>400.5561<\/td><\/tr><tr><td rowspan=\"3\">3%&nbsp;( \u221228%, 0%, 33%)<\/td><td>\u221243.1967<\/td><td>\u2212201.9633<\/td><td>158.7666<\/td><\/tr><tr><td>\u2212270.5241<\/td><td>258.6409<\/td><td>\u2212529.165<\/td><\/tr><tr><td>\u2212125.25<\/td><td>101.7985<\/td><td>\u2212227.0486<\/td><\/tr><tr><td rowspan=\"3\">6%&nbsp;( \u221228%, 0%, 33%)<\/td><td>\u2212224.4368<\/td><td>170.5557<\/td><td>\u2212394.9925<\/td><\/tr><tr><td>\u2212125.541<\/td><td>-84.9558<\/td><td>\u221240.5852<\/td><\/tr><tr><td>\u2212361.9054<\/td><td>274.1293<\/td><td>\u2212636.0347<\/td><\/tr><tr><td rowspan=\"3\">9%&nbsp;( \u221228%, 0%, 33%)<\/td><td>\u2212407.646<\/td><td>279.7855<\/td><td>\u2212687.4316<\/td><\/tr><tr><td>\u2212298.2092<\/td><td>215.1668<\/td><td>\u2212513.376<\/td><\/tr><tr><td>\u2212195.1191<\/td><td>6.8006<\/td><td>\u2212201.9197<\/td><\/tr><tr><td rowspan=\"3\">12%&nbsp;( \u221228%, 0%, 33%)<\/td><td>\u2212252.4224<\/td><td>77.7567<\/td><td>\u2212330.1791<\/td><\/tr><tr><td>\u2212427.3147<\/td><td>281.631<\/td><td>\u2212708.9458<\/td><\/tr><tr><td>\u2212350.1354<\/td><td>243.1088<\/td><td>\u2212593.2443<\/td><\/tr><tr><td rowspan=\"3\">15%&nbsp;( \u221228%, 0%, 33%)<\/td><td>\u2212384.8663<\/td><td>260.0402<\/td><td>\u2212644.9065<\/td><\/tr><tr><td>\u2212298.5118<\/td><td>131.9132<\/td><td>\u2212430.4251<\/td><\/tr><tr><td>\u2212434.6519<\/td><td>282.1728<\/td><td>\u2212716.8248<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>The calculation is as follows:<\/p>\n\n\n\n<p>Maximum Loss = ABS [min (P&amp;L) ] = 434.65 USDC<\/p>\n\n\n\n<p>Contingency Component = 0<\/p>\n\n\n\n<p><em>Position Maintenance Margin (MM) = <\/em>434.65 USDC<\/p>\n\n\n\n<p><em>Position Initial Margin (IM) = 434.65 \u00d7 1.2 = <\/em>521.58 USDC<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><em>Risk Factor = 1.2*<\/em><\/li>\n<\/ul>\n\n\n\n<p><em>*Please note that risk factor adjustments may be made under extreme market conditions.<\/em><\/p>\n\n\n\n<p>The total occupied initial margin in portfolio margin mode is 521.58&nbsp; USDC.&nbsp;<\/p>\n\n\n\n<p>The example above demonstrates that when trading the same bear put spread, the capital occupied in the cross margin is 2,795 USDC, while in the portfolio margin it only occupies 1,001.58 USDC. This means that when trading on portfolio margin, margin requirements will be significantly reduced with enhanced capital efficiency.<\/p>\n\n\n\n<p>Taking BTC-Options as an example, let&#8217;s take a look at the profit and loss for the preset 33 scenarios.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Preset Price % and Preset Volatility %<\/strong><\/td><td><strong>Total P&amp;L<\/strong><\/td><td><strong>BTC-22JUL22-18500-P<\/strong><\/td><td><strong>BTC-22JUL22-20000-P<\/strong><\/td><\/tr><tr><td rowspan=\"3\">-15%&nbsp;( \u221228%, 0%, 33%)<\/td><td>625.7977<\/td><td>\u22121,684.48<\/td><td>2,310.27<\/td><\/tr><tr><td>963.6231<\/td><td>\u22121,087.65<\/td><td>2,051.27<\/td><\/tr><tr><td>782.9313<\/td><td>\u22121,335.70<\/td><td>2,118.63<\/td><\/tr><tr><td rowspan=\"3\">\u221212%&nbsp;( \u221228%, 0%, 33%)<\/td><td>644.5096<\/td><td>\u2212937.9115<\/td><td>1,582.42&nbsp;<\/td><\/tr><tr><td>510.8202<\/td><td>\u22121,326.74<\/td><td>1,837.56&nbsp;<\/td><\/tr><tr><td>833.5652<\/td><td>\u2212622.7477<\/td><td>1,456.31<\/td><\/tr><tr><td rowspan=\"3\">\u22129%&nbsp;( \u221228%, 0%, 33%)<\/td><td>628.6553<\/td><td>\u2212261.0196<\/td><td>889.6749<\/td><\/tr><tr><td>484.2928<\/td><td>\u2212607.9572<\/td><td>1,092.25<\/td><\/tr><tr><td>391.1666<\/td><td>\u22121,016.33<\/td><td>1,407.50<\/td><\/tr><tr><td rowspan=\"3\">\u22126%&nbsp;( \u221228%, 0%, 33%)<\/td><td>271.8561<\/td><td>\u2212751.9431<\/td><td>1,023.80<\/td><\/tr><tr><td>370.5319<\/td><td>\u221211.2155<\/td><td>381.7475<\/td><\/tr><tr><td>314.7622<\/td><td>\u2212345.7032<\/td><td>660.4654<\/td><\/tr><tr><td rowspan=\"3\">\u22123%&nbsp;( \u221228%, 0%, 33%)<\/td><td>149.5752<\/td><td>\u2212146.0243<\/td><td>295.5996<\/td><\/tr><tr><td>157.4447<\/td><td>\u2212530.7827<\/td><td>688.2275<\/td><\/tr><tr><td>106.6142<\/td><td>140.39<\/td><td>\u221233.7758<\/td><\/tr><tr><td rowspan=\"3\">0%&nbsp;( \u221228%, 0%, 33%)<\/td><td>\u2212115.2825<\/td><td>221.0102<\/td><td>\u2212336.2927<\/td><\/tr><tr><td>0.386<\/td><td>\u22120.2897<\/td><td>0.6758<\/td><\/tr><tr><td>51.5862<\/td><td>\u2212348.9699<\/td><td>400.5561<\/td><\/tr><tr><td rowspan=\"3\">3%&nbsp;( \u221228%, 0%, 33%)<\/td><td>\u221243.1967<\/td><td>\u2212201.9633<\/td><td>158.7666<\/td><\/tr><tr><td>\u2212270.5241<\/td><td>258.6409<\/td><td>\u2212529.165<\/td><\/tr><tr><td>\u2212125.25<\/td><td>101.7985<\/td><td>\u2212227.0486<\/td><\/tr><tr><td rowspan=\"3\">6%&nbsp;( \u221228%, 0%, 33%)<\/td><td>\u2212224.4368<\/td><td>170.5557<\/td><td>\u2212394.9925<\/td><\/tr><tr><td>\u2212125.541<\/td><td>-84.9558<\/td><td>\u221240.5852<\/td><\/tr><tr><td>\u2212361.9054<\/td><td>274.1293<\/td><td>\u2212636.0347<\/td><\/tr><tr><td rowspan=\"3\">9%&nbsp;( \u221228%, 0%, 33%)<\/td><td>\u2212407.646<\/td><td>279.7855<\/td><td>\u2212687.4316<\/td><\/tr><tr><td>\u2212298.2092<\/td><td>215.1668<\/td><td>\u2212513.376<\/td><\/tr><tr><td>\u2212195.1191<\/td><td>6.8006<\/td><td>\u2212201.9197<\/td><\/tr><tr><td rowspan=\"3\">12%&nbsp;( \u221228%, 0%, 33%)<\/td><td>\u2212252.4224<\/td><td>77.7567<\/td><td>\u2212330.1791<\/td><\/tr><tr><td>\u2212427.3147<\/td><td>281.631<\/td><td>\u2212708.9458<\/td><\/tr><tr><td>\u2212350.1354<\/td><td>243.1088<\/td><td>\u2212593.2443<\/td><\/tr><tr><td rowspan=\"3\">15%&nbsp;( \u221228%, 0%, 33%)<\/td><td>\u2212384.8663<\/td><td>260.0402<\/td><td>\u2212644.9065<\/td><\/tr><tr><td>\u2212298.5118<\/td><td>131.9132<\/td><td>\u2212430.4251<\/td><\/tr><tr><td>\u2212434.6519<\/td><td>282.1728<\/td><td>\u2212716.8248<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>The calculation is as follows:<\/p>\n\n\n\n<p>Maximum Loss = ABS [min (P&amp;L) ] = 434.65 USDC<\/p>\n\n\n\n<p>Contingency Component = 0<\/p>\n\n\n\n<p><em>Position Maintenance Margin (MM) = <\/em>434.65 USDC<\/p>\n\n\n\n<p><em>Position Initial Margin (IM) = 434.65 \u00d7 1.2 = <\/em>521.58 USDC<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><em>Risk Factor = 1.2*<\/em><\/li>\n<\/ul>\n\n\n\n<p><em>*Please note that risk factor adjustments may be made under extreme market conditions.<\/em><\/p>\n\n\n\n<p>The total occupied initial margin in portfolio margin mode is 521.58&nbsp; USDC.&nbsp;<\/p>\n\n\n\n<p>The example above demonstrates that when trading the same bear put spread, the capital occupied in the regular margin is 2,795 USDC, while in the portfolio margin it only occupies 1,001.58 USDC. This means that when trading on portfolio margin, margin requirements will be significantly reduced with enhanced capital efficiency.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Portfolio Margin can greatly reduce margin requirements for spread strategies, letting traders use capital more efficiently. However, it\u2019s important to understand the associated risks and ensure your trading approach fits the chosen margin type.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<h5 class=\"wp-block-heading\">Expand Your Knowledge<\/h5>\n\n\n\n<p><a href=\"https:\/\/pi42.com\/blog\/call-put-options-crypto-explained\">What are Call and Put Options in Crypto<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/pi42.com\/blog\/option-premium-crypto-explained\">Option Premium in Crypto: What Are You Really Paying For?<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/pi42.com\/blog\/crypto-options-liquidity-slippage\">Understanding Crypto Options Liquidity and Slippage: Orderbooks Explained<\/a><\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>When trading option spreads, understanding how different margin modes affect your capital efficiency is essential. Let\u2019s explore the differences between Cross Margin and Portfolio Margin using a Bear Put Spread as an example. Bear Put Spread Example Imagine Bitcoin (BTC) is trading at $20,250. A trader executes the following trades: Contracts Qty Entry Price Mark [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":2794,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"zakra_page_container_layout":"customizer","zakra_page_sidebar_layout":"customizer","zakra_remove_content_margin":false,"zakra_sidebar":"customizer","zakra_transparent_header":"customizer","zakra_logo":0,"zakra_main_header_style":"default","zakra_menu_item_color":"","zakra_menu_item_hover_color":"","zakra_menu_item_active_color":"","zakra_menu_active_style":"","zakra_page_header":true,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[337],"tags":[339,338,381],"class_list":["post-2917","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-options","tag-crypto-options","tag-options-trading","tag-options-trading-strategies"],"jetpack_featured_media_url":"https:\/\/pi42.com\/blog\/wp-content\/uploads\/2025\/11\/Option-Spread-Strategies_.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/pi42.com\/blog\/wp-json\/wp\/v2\/posts\/2917","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pi42.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pi42.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pi42.com\/blog\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/pi42.com\/blog\/wp-json\/wp\/v2\/comments?post=2917"}],"version-history":[{"count":3,"href":"https:\/\/pi42.com\/blog\/wp-json\/wp\/v2\/posts\/2917\/revisions"}],"predecessor-version":[{"id":2920,"href":"https:\/\/pi42.com\/blog\/wp-json\/wp\/v2\/posts\/2917\/revisions\/2920"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pi42.com\/blog\/wp-json\/wp\/v2\/media\/2794"}],"wp:attachment":[{"href":"https:\/\/pi42.com\/blog\/wp-json\/wp\/v2\/media?parent=2917"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pi42.com\/blog\/wp-json\/wp\/v2\/categories?post=2917"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pi42.com\/blog\/wp-json\/wp\/v2\/tags?post=2917"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}