Derive Live
Hyperliquid (HYPE) is trading at $87.87 with $320M of options open interest across Deribit and Derive: $227M in calls and $93M in puts, a put/call ratio of 0.41, call-heavy, which usually reads as a market positioned for upside. The largest expiry is 30OCT26 with $95M open and a max pain of $85. Front-month at-the-money implied volatility is 68.2%, and the term structure is upward-sloping, so the market charges more for longer-dated protection. Data refreshes every five minutes from public venue APIs.
| Expiry | Days | Calls OI | Puts OI | Put/Call | Max pain | ATM IV | Strikes | Venues |
|---|---|---|---|---|---|---|---|---|
| 8SEP26 | 1 | $134K | $346K | 2.58 | $89 | 59.5% | 40 | DeribitDerive |
| 9SEP26 | 2 | $0 | $18K | 0.00 | $86 | 68.2% | 34 | DeribitDerive |
| 11SEP26 | 4 | $11M | $5M | 0.44 | $82.5 | 66.8% | 52 | DeribitDerive |
| 18SEP26 | 11 | $3M | $1M | 0.44 | $85 | 65.1% | 51 | DeribitDerive |
| 25SEP26 | 18 | $54M | $40M | 0.75 | $60 | 64.1% | 59 | DeribitDerive |
| 30OCT26 | 53 | $91M | $5M | 0.05 | $85 | 67.5% | 47 | DeribitDerive |
| 25DEC26 | 109 | $46M | $33M | 0.72 | $58 | 63.1% | 53 | DeribitDerive |
| 26MAR27 | 200 | $23M | $8M | 0.37 | $65 | 65.5% | 24 | Derive |
| Strike | Calls OI | Puts OI | vs spot |
|---|---|---|---|
| 40 | $475K | $16M | -54.5% |
| 45 | $138K | $13M | -48.8% |
| 50 | $4M | $5M | -43.1% |
| 75 | $7M | $2M | -14.6% |
| 80 | $6M | $4M | -9.0% |
| 85 | $28M | $884K | -3.3% |
| 90 | $13M | $236K | 2.4% |
| 95 | $24M | $21K | 8.1% |
| 100 | $38M | $51K | 13.8% |
| 105 | $23M | $0 | 19.5% |
| 130 | $10M | $3K | 47.9% |
| 150 | $14M | $0 | 70.7% |
| Venue | Contract | Side | Size | Price | vs mark |
|---|---|---|---|---|---|
| No prints over $50k in the last 24h. | |||||