Hyperliquid’s Yan Says Options Complement Perpetuals
His view points to room for distinct trading strategies on Hyperliquid, with HIP-4 offering a path to build options protocols.
Every Zipp story tagged #Options, newest first.
His view points to room for distinct trading strategies on Hyperliquid, with HIP-4 offering a path to build options protocols.
The 25-year extension secures Cboe’s exclusive rights to S&P 500 options through 2051, while bringing blockchain-based derivatives into the firms’ potential areas of collaboration.
The talks bring a major derivatives exchange and index provider into the growing push to put traditional financial products on blockchain rails.
The long-term agreement preserves room for collaboration on tokenized options, linking established index and market infrastructure with emerging on-chain financial products.
Covered calls tied to roughly 2,000 BTC carry a $70,000 strike while Bitcoin trades in the mid-$80,000s, and a Friday expiration decides whether the income trade stays in place.
The $3.2M position expires worthless outside a tight $90,000 to $100,000 band, so the trader is paying real premium to pin a precise $95,000 target rather than chase a generic long.
Positioning is becoming more active, but muted perpetual funding and restrained put-call ratios keep the market below prior frothy extremes.
The contraction is not a flight from risk. Perps absorbed the directional leverage while options absorbed the more complicated risk around holding Bitcoin, leaving dated futures squeezed between them.
Stocks climbed about 1% while BTC topped out at $79,890, leaving traders to weigh whether the ceiling is macro pressure or sellers in its own right ahead of the Fed.
A hot PPI would push Fed-hike odds past 60%, where CME FedWatch is already pricing, and risk breaking the $76K floor bulls are defending into Friday's CPI.
Spot CVD is still negative at -$29.6M, meaning the bullish options and ETF positioning is paying for a move the underlying market has not yet demanded.
Physical settlement ties exercised contracts to the underlying security, bringing crypto-market infrastructure closer to conventional US equity derivatives.
Headline treasury totals mix period activity, posted collateral and encumbered coins across incompatible legal structures, so any aggregate 'BTC on corporate books' number overstates unencumbered…
Tokenized-equity perp volume grew from $85B in January to $470B by June. Bybit's options layer hands retail the same 24/7 toolkit Wall Street gets only nine hours a day.
The new Tier 2 framework halves the AUM gate to $25B from $50B, a structural reset that signals the regulated options market is sizing Bitcoin ETF flow as a permanent asset class.
The trade is a short-term volatility wager: XRP must move far enough from $1.16 to cover the $62,000 premium by Aug. 28.
A wall of 1.79 million Bitcoin is boxing the market between $60,000 and $70,000, making $65,000 the key test.
The trade highlights the gap between implied and realized volatility: a low premium offers no guarantee of gains if BTC stays quiet.
The paired increase combines spot ETF exposure with a sharp rise in call options, making the institutional signal more directional than an ETF allocation alone.
Jones’ shift makes the Aug. 14 filings a key test of whether institutions are buying through the drawdown or simply trimming leveraged risk.