options

According to unfolded.data, this Friday at 16:00 Beijing time, Deribit will have 135,000 BTC expiring, with a nominal value of 10.92 billion USD, and the maximum pain point price is 78,000 USD, with a put/call ratio of 0.53.On the Ethereum side, this Friday there will be ETH options expiring with a nominal value of 776 million USD, the maximum pain point price is 2,500 USD, and the put/call ratio is 0.77.

Bitcoin fell below $80,000 on Tuesday, down about 0.4% since midnight UTC, briefly dropping to around $79,700. Ethereum decreased by 0.5%, and the DeFi index dropped by 1.8%, making it the largest decline among the indices tracked by CoinDesk.Meanwhile, the Korea Composite Stock Price Index (KOSPI) rose by 3.1%, and Asian tech stocks strengthened, but the crypto market failed to follow the rebound. On the macro front, the Federal Reserve will begin a two-day meeting on interest rates on Tuesday and announce its rate decision on Wednesday. CME FedWatch data shows that the market expects about a 90% probability that the Federal Reserve will keep interest rates unchanged, and traders will be watching for any potential rate hikes later in the year.In the options market, the $72,000 put option expiring on December 25 was the most traded Bitcoin option in the past 24 hours, and the 25 Delta put/call skew for Bitcoin across all maturities is positive, indicating that there is still demand for downside protection in the market.

User Momilio posted: On-chain options are currently the biggest blank space and opportunity in the cryptocurrency field. This content is excerpted from its upcoming on-chain options research report, currently just a summary of one chapter. Momilio stated: Mature financial markets will eventually expand to options, and cryptocurrency has reached a turning point; constraints are no longer regulatory or infrastructural, market-making liquidity has improved, and pricing systems can now support larger-scale transactions. It also noted: The trading volume of on-chain options is still only 6.9% of Deribit's options trading volume, and to reach critical scale, a large influx of retail order flow is necessary.Momilio stated: The annual trading contracts for U.S. options increased from 4.19 billion in 2017 to 15.2 billion in 2025, a growth of 263%, primarily due to retail investors. After Robinhood launched commission-free options in December 2017, the proportion of S&P 500 options on the same day rose from 5% to over 60% within ten years. By 2023, the proportion of contracts expiring within a week rose to 68%, with same-day options accounting for 43%; SSRN research shows that over 75% of retail-related trades are contracts expiring on the same day.In India, the premium for stock options is expected to reach 190.65 trillion rupees by the fiscal year 2026, which is 45.8 times that of the fiscal year 2016, with over 90% of retail derivatives traders only engaging in options. By the end of 2024, the Securities and Exchange Board of India will raise the minimum contract size from 500,000 rupees to 1.5 million rupees and restrict weekly expirations to only one benchmark index, with premiums still increasing by 7% in the fiscal year 2026. In the first half of 2026, the trading volume of options contracts on Indian exchanges reached 39.3 billion, which is 4.5 times that of the U.S. at 8.7 billion, while U.S. premiums of $6.3 trillion are nearly 5 times India's $1.3 trillion.

Decentralised.co published: The on-chain options trading volume is still less than 1% of perpetual contract DEX, while traditional market options trading is about three times that of futures. The institution backtested Bitcoin daily closing prices from January 2018 to October 2026, finding that among the ultimately profitable longs, the liquidation probabilities for 10x perpetual contracts over 180 days, 90 days, and 60 days were 47%, 29%, and 18%, respectively. It replayed three $1,000 Bitcoin longs on October 10, 2025: the 10x perpetual was liquidated at 21:14, the 30-day call option dropped to a low of $181 but returned to over $800 within an hour, and a $52 7-day put option helped the 10x long survive the downturn.Decentralised.co: In the past, on-chain options often failed due to fragmented order books, difficult hedging, and locked funds. Hegic depositors lost most of about $80 million in May 2021, Lyra depositors experienced a 4.9% loss in the Bitcoin pool and a 17.6% loss in the Ethereum pool within 7 months, and PsyOptions closed its product in June 2024. With the combination of perpetual liquidity like Hyperliquid, the locked funds required to sell a Bitcoin call option could be reduced from about $100,000 to about $15,000, while monthly returns increased from 1.8% to about 12%.The article lists Hyperliquid as the main venue for hedging liquidity, with the options protocol Derive (formerly Lyra) as the underlying engine, Paradex handling large trades, and Hypercall being the first options venue built on Hyperliquid. Derive liquidated about $18 billion in notional options value in the year ending October 19. After Paradex integrated with Paradigm on September 15, the date options trading volume increased from less than $3 million to $58.7 million within a week, and open contracts decreased from over $250 million to about $96 million by October 14. By September 2026, the notional value of on-chain options is expected to double to $5 billion, with premiums rising to $85 million.

Google (GOOG.O) announced the official launch of the Claude model deployment option managed by Anthropic on Google Cloud.

According to CoinDesk, data shows that the share of Bitcoin options in the cryptocurrency derivatives market continues to rise. The Bitcoin Volatility Index BVIV issuer Volmex stated that last week, the open interest of Bitcoin options accounted for slightly less than 60% of all Bitcoin derivatives open interest, up from about 50% at the beginning of the year, reflecting a market shift from purely betting on price direction to a greater focus on risk management.As of last Friday, the total open interest in the Bitcoin derivatives market was approximately $129 billion, of which U.S. Bitcoin ETF-related options accounted for about $36 billion, and BlackRock's IBIT options accounted for about $35 billion. Including options on native crypto platforms, the Bitcoin options market size is approximately $76 billion. ETF options currently account for about 47% of the Bitcoin options market, while the open interest of IBIT options has increased from about $11 billion in January 2025 to nearly $35 billion now.

According to The Defiant, the cryptocurrency exchange Blockchain.com has announced the launch of options trading services, initially supporting seven types of crypto assets. Buyers are required to fund the contracts with USDC.The options contracts cannot be exited early before expiration, and buyers must hold them until the expiration date. Residents of the United States and the United Kingdom are excluded from participating in this service.

The decentralized perpetual contract protocol Lighter announced the launch of BTC and ETH binary options on Core. Lighter is a low-latency decentralized exchange built on Ethereum zero-knowledge proofs, with order matching times, prices, and priorities all proven and published on Ethereum to ensure that transactions are verifiable and fair.Lighter's founder and CEO Vladimir Novakovski stated that the protocol is focusing on advancing options products this quarter, starting with binary options and gradually transitioning to on-chain European options, sharing the same balance sheet as perpetual contracts. Users can trade spot, options, and perpetual contracts on the same platform, enabling composite strategies such as basis trading and Delta hedging.Lighter claims its latency is in the tens of milliseconds, far lower than some competing platforms that exceed 500 milliseconds. As a U.S. company, Lighter is seeking to obtain a license from the U.S. Commodity Futures Trading Commission (CFTC), which, if successful, will make it the first on-chain trading venue to obtain such a license.

According to PR Newswire, Cboe Global Markets, the parent company of the Chicago Board Options Exchange (Cboe), announced that Cboe has expanded the trading hours for certain U.S. stock individual stocks and exchange-traded fund (ETF) options.The newly added pre-market and after-hours trading periods for the relevant options are from 7:30 to 9:25 AM ET Monday to Friday for pre-market trading, and from 4:00 to 4:15 PM for after-hours trading. This covers popular individual stocks such as Apple, Nvidia, Tesla, Microsoft, Amazon, Google, Robinhood, Intel, as well as major ETFs like SPY, QQQ, and GLD, currently involving a total of 29 underlying assets.

The New York Stock Exchange has launched extended trading hours for U.S. stock options.

The decentralized exchange Lighter announced, "Options season. Coming soon," and accompanied it with a 14-second teaser video, indicating that options trading products will be launched.Lighter has not yet announced the launch time, types of options, or specific product mechanisms.

According to CoinDesk, Paul Atkins, the chairman of the U.S. Securities and Exchange Commission (SEC), issued a statement on October 13, approving the rule change submitted by Cboe Global Markets. This change allows binary options linked to the key performance indicators (KPI) of 23 publicly listed companies in the United States. The metrics related to the cryptocurrency industry include: trading volume of Coinbase (COIN), number of customers and revenue of Robinhood (HOOD), and Bitcoin production of MARA Holdings (MARA).These contracts are cash-settled, European-style options that can only be exercised at expiration. The settlement data is derived from documents submitted by the companies to the SEC, rather than from earnings presentation materials. Cboe plans to launch these contracts this month, and Robinhood is expected to be the first brokerage to offer this product to retail investors. However, trading will not begin until the clearing agency Cboe Clear U.S. obtains temporary registration, and another related application is still under review.

On October 13, Paul S. Atkins, Chairman of the U.S. Securities and Exchange Commission (SEC), issued a statement announcing that the Commission voted that day to approve a proposed rule change by a certain securities exchange, allowing for the listing of binary options based on specific key performance indicators (KPIs) reported by certain stock issuers.According to the approval order, these binary KPI options will be listed and traded on the securities exchange, classified as cash-settled, European-style, standardized options, and recognized as NMS securities, protected under securities law. Their listing and trading methods will be largely similar to existing standardized non-binary options and will be subject to the exchange's rules regarding customer accounts, margin, trading halts, auction mechanisms, market maker designations and quoting obligations, order types, validity periods, and order instructions.The approval order only covers the aforementioned specific binary option contracts traded on exchanges that comply with securities law and the listing and trading of standardized securities options, and does not involve similar products that are based on the same KPIs but have different structures. The statement also noted that the approval order does not address or exclude the jurisdiction of the U.S. Commodity Futures Trading Commission (CFTC) over contracts based on the same KPIs but designed to fall under its jurisdiction.

OAK Research researcher Lilian Aliaga wrote that the on-chain options protocol Derive (formerly Lyra) has a nominal trading volume of $14.22 billion since January this year, approximately 2.6 times that of the entire year of 2025, accounting for nearly 75% of the on-chain options nominal trading volume and 88.1% of the paid premiums. The nominal trading volume in September was $3.43 billion, and it has exceeded $1 billion in the first week of October.The article states that Derive completed its V3 migration on October 6, 2026, abandoning its own chain and opting for zero-knowledge applications to settle directly on Ethereum, planning to become an options engine accessible to other applications. V3 introduces mutually isolated risk domains, including Prime covering BTC and ETH, an independent HYPE domain, an Alt domain covering SOL, XRP, ZEC, and DOGE, and an RWA domain covering tokenized gold.According to the article, Derive launched V2 in December 2023, replacing automated market makers with an order book as the main source of liquidity, and will launch portfolio margin in February 2024; Lyra will be renamed Derive in August 2024, and DRV will be launched in January 2025. In October 2025, FalconX became the publicly confirmed institutional market maker quoting on Derive, with collateral retained on its own side and positions represented on-chain in fxUSDC.

On-chain options protocol Derive announced that Derive V3 has been launched, the migration has been successfully completed, and trading has resumed. The team stated that this rebuild aims to continue the growth of its on-chain options business, with custody located on Ethereum, margin and settlement using zero-knowledge proofs, and order matching latency below 1 millisecond.According to the announcement, V3 supports the launch of no-code vaults and charges fees, and funds can also be released through ETH and BTC risk offset. Related features also cover yields and lending for ETH, WBTC, HYPE, and USDC, and accelerate the onboarding of crypto assets with real-world assets. Developers can build applications on Derive with less configuration and earn fees.Derive stated that new markets, vaults, and partner integrations will be launched on this basis in the coming weeks. The project indicated that its on-chain options business has been operating for over 5 years.

The founder of the decentralized perpetual contract trading platform Hyperliquid, Jeff Yan, was interviewed by the Empire podcast at DAS 2026 Asia Station. When asked what he would build if he were a builder and no longer allowed to create infrastructure, he stated he would look at what hasn't been built yet and has real potential, depending on what other builders are doing.Jeff Yan mentioned that at least for now, he might explore options because he has heard many people want to trade options. He believes that perpetual contracts generally meet the needs of many users, but some users express that trading perpetual contracts does not satisfy all the market views they want to express.He thinks that HIP-4 is a very obvious way to build an options protocol, which can inherit spot, order books, and portfolio margin; on the market-making side, there are also perpetual contracts that can be used to hedge the delta of options. The key is how to turn that one element into something widely appealing. He does not believe that any products similar to options or convexity yield styles have truly achieved escape velocity in the crypto space, but such products have clearly done so in traditional finance.

Cryptocurrency exchange Coinbase announced that it will relaunch the Coinbase Pro platform by the end of this year and has completed the integration with Deribit, thereby forming Coinbase Global Exchange. Coinbase stated at the Token2049 event in Singapore that its U.S. regulated futures commission merchant, Coinbase Financial Markets, will soon connect eligible U.S. customers to global crypto derivatives liquidity, marking the first time in market history that the U.S. is linked to the international derivatives market as a single liquidity pool.Coinbase indicated that the guidance released by the U.S. Commodity Futures Trading Commission in May allows Coinbase Financial Markets to connect U.S. customers with the global crypto derivatives market, enabling U.S. institutional clients to access options and perpetual contracts that previously required offshore entities and multiple counterparties to use in a regulated manner. Qualified traders outside the U.S. will gain access to options trading in the coming weeks, while U.S. retail traders are expected to open later this year. U.S. institutional clients can trade Deribit options and perpetual contracts through Coinbase Prime, with account openings currently available.Coinbase acquired Deribit, one of the largest global crypto options exchanges, for approximately $2.9 billion in August 2025. As of September 30, Deribit had over $30 billion in open interest for Bitcoin options, with trading volume exceeding $1 trillion last year.

Coinbase officially announced that it has officially launched stock options trading services within its app, supporting trading of call options and put options.Coinbase stated that this service allows users to clearly define their risk exposure before trading and offers commission-free trading, enabling users to trade stock options without switching to other apps.

ChainCatcher live report, at the OKX NOW Global Product and Ecosystem Conference (Singapore), the OKX trading product team introduced that its tokenized stocks and TradFi perpetual market have an average daily trading volume of about 3 billion dollars, peaking at 9 billion dollars. The team revealed that in the coming months, they will launch underlying options products and their own tokenized stocks (xRWA); in addition, they also disclosed for the first time an AI Bot that is still in the testing phase, which allows users to generate trading strategies using natural language and complete backtesting and deployment.