Options on Derive
Trade Derive's options from a strategy or by hand, on paper or from a live project's wallets, with implied volatility to decide on and perps to hedge with.
What's covered#
Derive's calls and puts on ETH, BTC, SOL, HYPE, XRP, ADA, ZEC, XAUT (gold), LIT, VVV, PUMP and CC. Markets → Options shows each chain and its order book beside Deribit's prices.
In a strategy#
uses { bars: "^1", derive: "^1" }
const iv = derive.iv30d("eth", interval); // at-the-money volatility 30 days out, percent
when (iv > 80 && derive.positions() == 0) { derive.sell({ type: "call", days: 30, usd: 500 }); }
when (iv < 60 && derive.positions() > 0) { derive.close({}); }| Read | Means |
|---|---|
derive.index(u, interval) | The venue's index for the underlying |
derive.iv7d, derive.iv30d | At-the-money implied volatility 7 and 30 days out |
derive.value(), derive.delta(), derive.positions() | What's held, at the model's value, its delta in USD, and how many are open |
derive.buy and derive.sell take a type, days to expiry, an optional strike and a size; sales are cash-secured (a put locks its strike). Options settle at expiry against the index.
Hedged with perps#
The Options volatility, hedged on the perp book starter sells a strangle when implied volatility is rich against what ETH realizes on Hyperliquid, buys a straddle when it's cheap, and hedges the options' delta on the perp every bar: resting at the touch while it can wait, and taking (capped to the book near the middle) when it's far off.
Live#
On a live project each wallet holds the same options on Derive from a subaccount of its own.