Bybit has announced the launch of Perp Options, a new derivatives product it describes as the industry's first options product based on equity perpetual contracts. The initial markets for SpaceX and NVIDIA are scheduled to begin live trading on September 17, 2026, at 20:00 UTC.

According to information shared on X by @WuBlockchain (https://x.com/WuBlockchain/status/2093318294661120258), the new product is designed to combine options strategies with perpetual-contract exposure. Bybit said Perp Options will support 24/7 trading, USDT settlement and a contract multiplier of 1. The product will also be integrated with Bybit's Unified Trading Account and Portfolio Margin system, allowing users to manage and hedge different types of positions within the same trading environment.

The around-the-clock trading model contrasts with conventional equity options, which trade during regulated exchange hours. Perpetual-style equity exposure has grown as a category among crypto exchanges seeking to offer pre-IPO names like SpaceX, which trades publicly only through secondary share markets, alongside listed stocks such as NVIDIA.

Bybit Sets September 17 Launch for Initial Markets

The first Perp Options markets will cover SPCX (SpaceX) and NVDA (NVIDIA). Bybit has scheduled live trading for both markets to begin on September 17, 2026, at 20:00 UTC.

The launch introduces an options-based product tied to equity perpetual contracts rather than conventional options with fixed expiration dates. Bybit said additional markets and expiries will be introduced later. Among the assets planned for future additions are TSLA, QQQ, SOXL and MU. Bybit did not specify when those markets will become available. The planned expansion would broaden the range of underlying assets accessible through the Perp Options product beyond the initial SpaceX and NVIDIA markets.

Perp Options Supports 24/7 Trading and USDT Settlement

Bybit said Perp Options will operate around the clock, providing 24/7 trading. Contracts will be settled in USDT, while the contract multiplier has been set at 1.

The structure is designed to provide users with access to options exposure through perpetual contracts, combining characteristics associated with both products. Unlike traditional equity options, which generally have predetermined expiration dates, perpetual contracts are structured without a fixed expiry. Bybit said it plans to add additional expiries to Perp Options as the product develops. The exchange has not provided further details about the specific terms of those future expiries.

USDT settlement also means these positions are margined in a stablecoin rather than the underlying currency of the referenced equity, aligning the product with how Bybit's existing crypto derivatives are traded.

Integration With Unified Trading Account and Portfolio Margin

A key component of Bybit's launch is the integration of Perp Options with its Unified Trading Account and Portfolio Margin. According to the announcement, this integration will allow users to cross-hedge positions across spot, perpetual and options markets. Such functionality can enable traders to manage exposures across multiple instruments rather than treating each position independently.

The system will also support several established options strategies, including spreads, straddles and covered calls. Spreads generally involve taking positions in multiple contracts with different characteristics, while straddles combine call and put positions around the same underlying asset. Covered calls involve holding an underlying position while selling call options against it.

Bybit's portfolio-margin framework is intended to account for related positions when assessing overall exposure, potentially allowing capital and risk management to be handled across the connected instruments.

Planned Expansion to TSLA, QQQ, SOXL and MU

Following the initial launch, Bybit said it plans to expand Perp Options to include TSLA, QQQ, SOXL and MU, as well as additional expiries. The planned additions would increase the number of equity-related instruments available through the product and extend the range of strategies that traders can potentially implement through the platform.

The launch comes as cryptocurrency exchanges continue to expand beyond traditional crypto derivatives into products linked to equities and other financial assets. Bybit's Perp Options structure represents an attempt to combine equity-linked exposure with the trading characteristics of perpetual contracts and options. What to watch next is whether the additional markets and expiries are rolled out on schedule, and how the product's terms compare with the equity perpetual futures already offered on competing platforms.

The initial SpaceX and NVIDIA markets are scheduled to go live on September 17, 2026, at 20:00 UTC, with further markets and expiries planned for later stages of the product rollout.

Source: Hokanews (https://www.hokanews.com/2026/08/bybit-launches-equity-perpetual-options.html)