# Virtuals Opens Applications for Butler Options-Hedging Test on Derive By Simon Yoon Canonical URL: https://www.tokenpost.com/news/technology/39503 Published: 2026-10-24T01:25:47.000Z Updated: 2026-10-24T01:25:47.000Z Section: Technology > Users set a tolerable decline and authorize Butler once; the tool can then execute options trades automatically around economic releases. Virtuals Protocol is accepting applications for a private test of Butler’s options trading on Derive, adding a way for Bitcoin (BTC) and Ether (ETH) holders to hedge around major U.S. economic releases. Users set the amount of decline they are willing to tolerate and authorize Butler once. The tool can then carry out follow-up options trades automatically on Derive, an options trading platform, before Federal Reserve rate decisions, Consumer Price Index releases and nonfarm employment data. The private-test feature would add options-based hedging to Butler’s existing tools. Earlier additions include [automated scalping strategies](), built from user descriptions, and [copy trading](), which lets users choose traders to follow and set limits on Butler’s trades. For copy trading, Butler combines activity across wallets and executes trades within the limits users set. The Derive test applies Butler’s automation to options, with users setting a decline threshold and authorizing the tool before it handles subsequent trades. ## Links in this article - [automated scalping strategies](https://www.tokenpost.com/news/technology/30480) - [copy trading](https://www.tokenpost.com/news/technology/37271)