Bybit will begin offering around-the-clock options trading on SpaceX and Nvidia equity tokens starting September 17, with USDT settlement and fractional lot sizes, according to an announcement by the exchange.
The contracts will support portfolio margin, allowing users to trade spreads, straddles, covered calls and other multi-leg strategies. The move extends Bybit's existing perpetuals offering into the options market for stock-tracking tokens, a category that has drawn regulatory scrutiny but continues to expand across major platforms.
Bybit's perpetuals on equity tokens like SPCX and NVDA already operate 24/7, unlike traditional stock markets. The options contracts will follow the same settlement and margining rules as the perpetuals. The exchange has not disclosed which tokens beyond SpaceX and Nvidia will receive options contracts, or whether additional assets are planned before year-end.
Stock token options remain largely unregulated in most jurisdictions. U.S. regulators have questioned whether these instruments constitute unregistered securities or derivatives subject to Commodity Futures Trading Commission oversight. The SEC took enforcement action against certain stock token issuers in 2024 and 2025, though trading platforms themselves have not been the primary target of those actions.
Fractional options on stock tokens are a relatively recent product class. Most traditional options exchanges require minimum contract sizes, typically 100 shares of the underlying stock. Crypto platforms offering fractional options reduce the entry point for retail traders, with smaller accounts able to control larger notional positions.
Bybit competes with OKX, Deribit and other exchanges that already offer options on various assets. Deribit dominates crypto-native options with roughly 60 percent daily volume in the category as of August 2026. The addition of equity-linked options may attract traders who otherwise hedge or speculate on U.S. equities through traditional channels.
