quant @derivexyz keeping it i^2. Follow for derivatives alpha. nfa.
Joined August 2022
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derivequant retweeted
ETH calls paid this week.
Congrats to one trader who closed 730 ETH $1,900 calls for $17.7K in profit on Derive. He spent less than 1/10th opening those positions.
derivequant retweeted
Derive (DRV) is now available on @HyperliquidX.
DRV-USDC spot trading is available on Hyperliquid.
HyperEVM contract address: 0x9628bba16db41ea7fe1fd84f9ce53bc27c63f59b
derivequant retweeted
It took us a couple years to reach our first billion in volume across BTC and ETH.
Now we’ve more than doubled that in 6 months with HYPE alone, with demand continuing to climb, onwards!
derivequant retweeted
Derive is now live on @LorisTools alongside top CEXes in its options dashboard.
Beyond options, traders can compare funding, open interest, volume and liquidations across venues: loris.tools/options/hype/der…
derivequant retweeted
Derive options are now live on @laevitas1 alongside Deribit, Binance and Bybit.
After 5 years of building, we hold 90%+ of onchain options market share and 2%+ of global options. Plenty of room for growth as markets move onchain and institutions adopt structured products.
derivequant retweeted
Today, Derive crossed $30 billion in all-time notional volume.
Thank you to everyone who gave us a look, tried the product, shared feedback and joined us along this odyssey.
For five years, the same core team has kept pushing. Our knowledge has compounded, and we've become the market leader for onchain options.
What's coming next is dedicated to everyone who helped us get here.
derivequant retweeted
Largest trade in Derive history just printed...again!
$210M+ or 3,552 BTC across four legs:
• Bought 888 BTC July 2 55k puts
• Sold 888 BTC July 2 56k puts
• Sold 888 BTC July 2 58k puts
• Bought 888 BTC July 2 59k puts
derivequant retweeted
In the span of 7 months...
Credits to @0x_tiago
teapaw.org/0x_tiago/status/207023…
An interesting dataset I left out of the report is the book liquidity coverage against RFQs, along with overall improvements over time.
Main takeaways are:
- Book liquidity has improved each month in all tenors
- The best displayed median spread got worse in the recent two months for most tenors, which can be explained by the increase in coverage in May and June
- Despite the median spread worsening a little bit, an increasing order book coverage is essential for any successful trading venue, as it provides confidence to traders that they will be able to get in and out of positions when needed
- The book liquidity improvement for contracts below 10-delta is pretty impressive during May and June.
- Despite 80%+ of the volume coming from RFQ (see item 3.1 in the article), nearly 80% of total legs traded could be filled by the book in June by most tenors except for 61+ DTE, which got materially worse than in the previous months
The $HYPE book on Derive has improved by orders of magnitude since launching 8 months ago, and it has become the largest non-BTC or ETH options market in the whole industry, having surpassed $SOL in all exchanges' OI since April
derivequant retweeted
$ZEC options and perps are now live on Derive.
This is the first onchain options market for Zcash.
Privacy is crypto’s oldest narrative. It only makes sense that the market around it settles onchain, where positions, pricing, and settlement can be verified transparently.
derivequant retweeted
One of the more surprising findings in @0x_tiago’s HYPE report: open interest is still heavily short-dated, but premium spending has shifted close to 50/50 between short- and longer-dated expiries.
A sharp breakdown at how a new options market forms.
teapaw.org/0x_tiago/status/206918…
derivequant retweeted
HYPE options traders still want upside.
Across expiries through September, calls outweigh puts by more than 2x. The biggest position is the June 26 $80 call, with upside strikes still active into September.
Max pain for June 26 is if $HYPE sits at $60.
Source: @derivativemonky
derivequant retweeted
Monster HYPE options print
150,000 contracts per leg. Long call condor on $HYPE. $43.9M notional. Filled on @DeriveXYZ via RFQ.
Derive is the only place where you can trade options permissionlessly in size.
derivequant retweeted
New $HYPE options read from @0xTindorr.
The piece looks at what options data is showing as HYPE retests its ATH, including where traders are active, how the market is pricing the move, and the levels to watch.
teapaw.org/deriveinsights/status/…
derivequant retweeted
Derive options are now accessible through @ArcexApp, with support for Builder Codes!
Arcex is a mobile-first trading app that lets users execute options directly from their phone.
derivequant retweeted
Over the coming weeks, we'll be sharing Derive trading guides to help you get the most out of the platform.
First up: a $HYPE covered call guide. Bookmark this one.
This content is for educational purposes only and does not constitute financial advice.
derivequant retweeted
Shoutout to @derivativemonky, a solo builder and one of our community members who has been quietly building a killer analytics & backtesting dashboard.
We've become the reference point for $HYPE options pricing but things like ATM-IV, term structure, realized vol barely exist.
This is exactly the kind of thing we want to see around Derive: traders, builders and community members pushing market structure forward in public.
derivequant retweeted
It’s been a turbulent week, and when you look through the June to September options book on Derive, you can see a clear split between how traders are positioning BTC/ETH versus HYPE.
$BTC and $ETH still look more like range and vol markets than clean directional bets. BTC positioning is concentrated around June, with traders active in downside protection and upside calls, while ETH has a slightly cleaner upside lean into July and September with strikes around 2.8k, 3k and 3.2k showing up. Neither book looks like traders are all-in on one side.
$HYPE is diverging. Since the Arthur Hayes sell, the market has had a public reason to fade the move, however the options book still has real upside activity sitting in it with June 26 call activity clustered around 55/60/80 and September 25 still showing size around 55, plus further upside at 80/110/150.
The TL;DR is: BTC and ETH options are being used to hedge/manage volatility, while HYPE is more for upside optionality.
derivequant retweeted
Another one.
A Derive trader turned their ~$34k portfolio into ~$736k in a single trade buying $HYPE calls.
...And they're back at it, positioning for more upside now with call spreads. Godspeed.
ALT From 34k to 736k in one trade.
derivequant retweeted
That’s not a typo.
One trader bought ~$6k of $HYPE calls on Derive and walked away with ~$124k in profit 20 days later. A 1,815% return!
This wasn’t even the biggest HYPE win this week... more to follow.
