Hyperliquid’s HYPE token is seeing increased derivatives activity ahead of the October 9, 2026, expiry date. Four options contracts tied to this date have reached a notional value of $3.67 million on the Deribit exchange.
Deribit introduced HYPE USDC options, futures, and perpetuals in June 2026, followed by Bybit in August 2026. Since August 9, 2026, Deribit has recorded 26,820 trades with a total turnover of $5 million.
September 2026 turnover reached $2.9 million, representing over half of the total volume since August 9. A single-day record of $540.6K was set on September 25.
Approximately 1.5 million contracts are currently open for the October 30, 2026, expiry cluster. The HYPE spot price has recently fluctuated between $88 and $89.
