Bybit adds options on stock perpetuals, starting with SpaceX

Bybit is launching what it calls the first options contracts tied to stock perpetuals, The Block reported. Starting September 17 at 8 p.m. UTC, users will be able to trade 24/7 options on SpaceX (SPCX) and Nvidia (NVDA), with fractional lots and USDT settlement.

The contracts plug directly into Bybit's Unified Trading Account and support portfolio margin, along with standard options strategies: buying and selling options, spreads, straddles, covered calls. Bybit says it plans to add new expiries regularly and expand the list of underlyings to include Tesla, QQQ, SOXL, and Micron. The pitch is access to U.S. equity options without market-hour restrictions or the usual 100-share contract minimum.

• Launch: Sept 17, 8 p.m. UTC, on Bybit's Unified Trading Account
• Starting underlyings: SpaceX (SPCX) and Nvidia (NVDA)
• Planned expansion: Tesla, QQQ, SOXL, Micron
• Sector volume growth: $85B (January) to $470B (June)
• SpaceX's June volume: $66B+, the most-traded equity perp that month

The launch lands the same week Binance opened 20x leveraged futures on Bitcoin miner MARA Holdings and four other stocks, a reminder that exchanges are racing to bolt every kind of equity derivative onto crypto rails at once. In July, Ondo let users put tokenized stocks up as collateral to trade perpetuals on stocks, commodities, and other assets. Bybit's options are the next layer on that same convergence: holding a tokenized stock and trading its perpetual are no longer the ceiling, hedging or leveraging that position with options is next.

The category Bybit is entering has grown fast. Tokenized-equity perp volume rose from $85 billion in January to about $470 billion in June, according to The Block's own prior reporting. SpaceX was the single most-traded equity perp that month, with more than $66 billion in volume, which explains why it's one of the two names Bybit is opening with.

The growth isn't confined to centralized exchanges. Equity-focused HIP-3 markets on Hyperliquid climbed from roughly 2% of the platform's total perp volume at the start of the year to around 50%, with Nvidia, Tesla, and Nasdaq-100 contracts driving much of that shift. Coinbase, Kraken, and Robinhood have all been pushing toward the same round-the-clock equity access from different directions.

None of this replaces a brokerage account. What it does is remove the two constraints that used to separate crypto trading from equity trading, market hours and minimum lot sizes, and Bybit is betting there's demand for the combination even before the September launch date arrives.

This article is for informational purposes only and does not constitute investment advice.