Before you start to trade USDC options, please ensure that you have transferred USDC to your USDC account.
Step 1: Click on Assets at the top right-hand corner of the Bybit home page. Then click USDC Derivatives.
Step 2: Next, click Transfer In
Step 3: On the Transfer page, in addition to USDC, you can convert the USDT in your Spot Account into USDC at the real-time exchange rate, and transfer directly to your USDC Account.
How to Place an Options Order
Here's a step-by-step guide to help you place your first Options order on Bybit.
On Desktop
Step 1: Click on Derivatives –> USDC Options on the navigation bar to enter the USDC Options trading page.
The USDC Options trading page consists of two main sections:
a. Summary tabs: View details about your option trades, including Position Summary, Expiration Date, Greeks, Position, Active Order, Order History and Trade History.
b. Options chain: Displays important market information related to the options contract that you've selected, including the Underlying Price, Strike Price, Delta, Mark Price, and more.
Tip: Bid and ask columns display the prices at which market participants are willing to buy or sell options contracts.
Step 2: Select an expiration date you're interested in, or you can display all the expiration dates at once — the expiration date of the option you intend to buy or sell — from the dates listed at the top of the options chain.
Step 3: Select option type: Calls or Puts.
You can view Call Options displayed on the left side of the options chain, and Put Options on the right. The Strike Price is displayed in the middle.
Step 4: Click on the desired Strike Price on the left side (Calls) or right side (Puts) of the option chain, and the order placement window will appear on the right side of the trading page.
Step 5: In the order placement window, you'll be able to view the details of the options: Implied Volatility (IV), Delta, Gamma, and more.
Next, you can enter order parameters to place your options order.
Set via Limit
a. Select your trade direction: Buy or Sell
b. Enter the order price
c. Enter the quantity to buy or sell
d. Select Post-Only (optional)
e. Select your Time in Force strategies (optional)
Set via IV
a. Select your trade direction: Buy or Sell
b. Enter the amount of IV
c. Enter the quantity to buy or sell
d. Select Post-Only (optional)
e. Select your Time in Force strategies (optional)
Step 6: After you have entered the price/IV and quantity, you may see the margin required for the trade and the options greeks calculated for you. You may also view the P&L probability chart below the order placement area for the expected profitability of the options order.
Set via Market
a. Select your trade direction: Buy or Sell
b. Enter the quantity to buy or sell
c. Select Reduce Only (optional)
For market orders, margin required will not be shown as market orders as the price will only be known after the order is executed.
Step 7: Click on Place Order to bring up a confirmation window.
Step 8: Confirm that all the information you've entered is accurate and click on Confirm.
Your options order has been submitted successfully.