Hyperliquid’s HYPE Options Activity Builds Ahead of Oct. 9 Expiry
Options contracts tied to HYPE expire at 4 a.m. ET (8 a.m. UTC) on Oct. 9 as derivatives trading expands across Deribit and Bybit.
Options activity tied to Hyperliquid’s HYPE token has increased ahead of contracts scheduled to expire Oct. 9, highlighting the growth of derivatives trading around one of the crypto market’s newer assets.
The options contracts expire at 4 a.m. ET (8 a.m. UTC). The scheduled settlement gives traders a fixed date around which to manage positions, although the activity alone does not establish whether traders are bullish, bearish or hedging existing HYPE exposure.
Deribit launched HYPE/USDC options June 23. Each contract represents 10 HYPE, and the minimum order size is one contract. The exchange’s HYPE derivatives lineup also includes dated futures and perpetual contracts, giving traders several ways to take positions tied to the token.
Bybit began offering HYPE/USDT options in Aug. 2026. The exchange introduced additional expiries Aug. 6 and began regular contract generation Aug. 7.
HYPE is the native token of Hyperliquid, and derivatives tied to the token are now available on multiple centralized exchanges. The options market allows traders to establish positions tied to a future price without directly buying or selling the underlying token in the same way as a spot transaction.
The Oct. 9 expiry is the next scheduled event for the contracts discussed, while the broader HYPE derivatives market also includes later-dated products and perpetual contracts.
