Bybit launches Perp Options on equity perpetuals for SpaceX and Nvidia (NVDA), with round-the-clock trading, fractional lots, and USDT settlement starting Sept. 17.
Cryptocurrency exchange Bybit launched Perp Options, a product it described as the industry's first options contract based on equity perpetuals. Trading begins on September 17, 2026, at 8 p.m. UTC.
The initial release covers two underlying assets: SpaceX and Nvidia (NVDA). Traders can execute positions around the clock, unrestricted by conventional market hours. The contracts use fractional lots with a one-to-one multiplier, removing the standard 100-share minimum that often blocks retail investors. All settlements occur in USDT, and profit and loss calculations require no token holdings.
The offering integrates with Bybit's Unified Trading Account system, handling spot and futures positions alongside options within the same interface. The exchange supports buying and selling options, constructing spreads, executing straddles, and implementing covered calls. Portfolio margin functionality is included, letting traders reduce total margin obligations through hedging, available to the entire user base.
Bybit said it will add expiration dates on a regular basis. The roadmap includes expanding coverage to Tesla, QQQ, SOXL, and Micron.
The launch lands in a rapidly growing market for tokenized equity perpetuals. Monthly volume climbed from $85 billion in January to around $470 billion by June, according to data cited by Bybit. SpaceX topped all equity perpetuals in June with volume exceeding $66 billion, making it a logical first choice. On Hyperliquid, equity-oriented trading expanded from roughly 2% of perpetual volume at the start of the year to about 50%, with Nvidia, Tesla, and Nasdaq-100 derivatives among the leading instruments.
NVDA, one of the two initial assets, carries an Alpha Score of 76, labeled Strong. QQQ, a planned addition, holds a score of 47, labeled Mixed. Bybit's move reflects a broader push by crypto platforms into equity derivatives, following steps by Coinbase, Kraken, and Robinhood toward continuous stock trading. In July, Ondo launched a service letting users pledge tokenized equities as collateral for perpetuals across stocks and commodities. Bybit's initiative layers options onto that infrastructure.
The product is distinct from traditional U.S. stock options. The fractional lot structure and USDT settlement mean the contracts operate more like crypto derivatives than listed equity options.
Trading for SpaceX and NVDA Perp Options starts Sept. 17 at 8 p.m. UTC.
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