Bybit has launched Perp Options, allowing users to trade options on TradFi perpetual contracts around the clock, starting with SpaceX and Nvidia.
Bybit, a cryptocurrency exchange platform, has launched Perp Options based on its TradFi perpetual contracts. The product enables users to trade options linked to traditional financial assets through their Bybit accounts. The first phase launched on 17 September 2026 with contracts linked to SpaceX and Nvidia. These are settled in USDT and are integrated with Bybit’s Unified Trading Account (UTA), allowing users to manage Spot, Futures, and Options positions within the same account.
Perp Options support multiple trading strategies
The product supports buying and selling calls and puts, as well as strategies including spreads, straddles, covered calls, and protective puts. Perp Options use a contract multiplier of one, allowing fractional lot sizes rather than the standard 100-share contract structure used in traditional equity options. Bybit also supports Cross Margin and Portfolio Margin for Perp Options. Portfolio margin allows related positions to be considered together when calculating margin requirements and can be used to hedge positions across the platform.
Bybit offers several expiry cycles for Perp Options, including next-day, three-day, four-day, current-week, next-week, tri-weekly, and monthly contracts. Expiries that fall on weekends or public holidays of the underlying market are skipped. At expiry, the settlement price is calculated using the 30-minute time-weighted average price of the underlying index immediately before the contract expires.
More underlying assets planned for Perp Options
Bybit has indicated that it plans to add further underlying TradFi perpetual contracts, including Tesla, QQQ, SOXL, and Micron. The company said new expiries will also be added regularly following the initial launch. Perp Options are available through the latest version of the Bybit app. The contracts are European-style and cash-settled in USDT at expiry, with no physical delivery of the underlying asset.
Bybit also outlines how Perp Options will be handled during corporate actions. Mergers, delistings, and company name changes can trigger adjustments or early settlement, with the applicable treatment depending on the type of action.
