Crypto
HYPE Options Trading Surges Ahead of October 9th Expiry
HYPE options trading has surged ahead of the October 9th expiry, with $3.67 million in notional value traded across four contracts on Deribit.
The Deribit exchange launched HYPE USDC options and futures in June, followed by Bybit's listing in August, giving traders a formal venue to express directional views on the token beyond spot buying.
Since August 9th, HYPE options on Deribit have logged 26,820 trades and $5 million in total turnover. September has been the standout month, with a single-day record of $540.6K traded on September 25th.
The dual-exchange listing on Deribit and Bybit makes it plausible for HYPE options to build volume, as it's not dependent on a single venue's user base.