Trading in Hyperliquid options surged following Trump's comments
Following U.S. President Donald Trump’s comments regarding a possible regulatory framework for the Hyperliquid crypto platform in the United States, trading activity in Hyperliquid Strategies shares and options on them surged sharply. According to CNBC, around 3:00 p.m. Eastern Time, Trump stated that Mike Selig, chairman of the U.S. Commodity Futures Trading Commission, is also working to ensure that Hyperliquid operates in the U.S. in full compliance with the law.
By the close of trading, Hyperliquid Strategies shares had risen 30%, and their year-to-date gain exceeded 163%. The HYPE token, used for settlements and transactions on the platform’s blockchain network, rose 18% and approached record highs. Meanwhile, shares of Cboe Global Markets fell 3.5%, Miami International Holdings fell 3.1%, and CME Group fell 1.7%.
Trading volume in Hyperliquid Strategies stock options was nearly eight times the average for the previous 30 days. More than 120,000 call option contracts were traded, compared to fewer than 8,000 put option contracts. Traders bought nearly 45,000 call contracts and sold 29,000; the total premium amounted to about $10 million.
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The largest individual trades took place about half an hour after Trump’s statement: a buyer purchased 2,000 call options with a strike price of $8, expiring in November and December, for approximately $510,000. At the same time, CNBC noted significant activity in call options even before the president’s speech: by 3:00 p.m., trades totaling nearly $2 million had been executed on contracts with various strike prices and expiration dates.
Specifically, around 11:00 a.m., one trader spent $65,000 on 719 call options with a strike price of $8, expiring in mid-October. The contract price rose from 90 cents at the time of the trade to $2.45 at market close. Dennis DeWitt, co-founder of the investment firm Millbank Dartmoor Portsmouth, told CNBC that such trades raise questions about whether someone might have had advance knowledge of the upcoming announcement. This is his assessment, not an established fact.
David Shamis, CEO of Hyperliquid Strategies, said the company had been trying for some time to find a way to operate in the U.S. and had been in contact with the CFTC. According to him, Trump’s comment at the press conference means that this issue has become a priority.
