Derive’s Seven Most-Traded HYPE Options Contracts Record $5.45 million in Notional Volume

The seven most-traded options contracts tied to Hyperliquid’s HYPE token were all on Derive, with a combined $5.45 million in notional volume over 24 hours.

Derive specializes in cryptocurrency derivatives, including options. The volume figure does not show whether traders were speculating on HYPE’s price or hedging existing exposure.

The activity follows earlier HYPE options trading ahead of the Oct. 9 expiry, which also noted that trading activity alone does not reveal traders’ positions.