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Crypto exchange Bybit is launching a new options product tied to stock perpetual futures, marking the first options contracts based on stock perpetual futures as the underlying asset.
The Block reported on Aug. 28 that Bybit will start offering options linked to SpaceX and Nvidia at 8 p.m. UTC on Sept. 17. The products will trade 24/7 and support fractional trading, USDT settlement and integration with Bybit's Unified Trading Account.
The contracts will support a range of structures and portfolio margin. Traders will be able to use strategies including buying and selling options, spreads, straddles and covered calls. Bybit also plans to expand the underlying assets to Tesla (TSLA), QQQ, SOXL and Micron (MU), while regularly adding expiration dates.
Bybit said the product was designed to improve access to US equity options. Traditional US stock options are limited to regular trading hours and minimum contract sizes of 100 shares, but the new product removes those constraints.
