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Crypto options are derivatives contracts that give traders the right to buy or sell an underlying crypto asset at a specified price on a predetermined date. They offer flexibility without requiring holders to own the underlying asset. Bybit offers various expirations, USDC- and USDT-settled contracts, making crypto options trading accessible and straightforward.
Please note that Bybit has discontinued issuing new USDC-settled options as of Feb 26, 2025. You can continue trading existing USDC-settled contracts until expiration. However, only USDT-settled options are available for new issuances, offering traders a wider selection of contracts.
Key Takeaways:
Crypto call options let you buy a cryptocurrency if the price rises, while put options let you sell if the price drops.
Strategies like the covered call, protective put, straddle and strangle help traders navigate different market conditions, whether aiming for profits or hedging risks.
Bybit’s platform provides features to set up options trades with ease for both beginning and advanced traders.