Optio.
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Fractional on-chain options · settled in USDC

Options on anything.
Sized for anyone.

Buy your first option for as little as a dollar. Optio fractionalizes options on any underlying asset in the world — US and international stocks, crypto, FX, commodities, pre-IPO giants, and soon compute — with defined risk on every long: no margin calls, no liquidations, ever.

Launch Optio →New to options? Start here
Trading contest live on testnet — through Aug 31 →
NVDA $190 Call×25
LIVE
Aug 21 · spot $189.50 · IV 28.0%
Quantity1 contract · 25 units
Buy / Long
$109.55
Sell / Short
$108.46
Est. cost$109.55
Breakeven$194.38
Max riskpremium only
Δ 0.51Γ 0.036Θ −0.14ν 0.16
$1
entry ticket, via fractional sizing
232
underliers, every asset class
17,000+
listed option series
24/7
on-chain venue, USDC settled
AAPL ·NVDA ·TSLA ·BTC ·ETH ·SOL ·HYPE ·ANSEM ·MiniMax ·Zhipu AI ·Pop Mart ·Tencent ·Samsung ·Toyota ·LVMH ·EUR/USD ·USD/JPY ·GOLD ·SILVER ·WTI ·OpenAI ·Anthropic ·SpaceX ·Stripe ·SPY ·QQQ ·META ·AMD ·Reliance ·BYD ·
AAPL ·NVDA ·TSLA ·BTC ·ETH ·SOL ·HYPE ·ANSEM ·MiniMax ·Zhipu AI ·Pop Mart ·Tencent ·Samsung ·Toyota ·LVMH ·EUR/USD ·USD/JPY ·GOLD ·SILVER ·WTI ·OpenAI ·Anthropic ·SpaceX ·Stripe ·SPY ·QQQ ·META ·AMD ·Reliance ·BYD ·
The edge

Why traders switch.

Everything below is live on the venue today — none of it is roadmap.

Fractional contracts
Standard options come in 100-share blocks — five figures of notional per ticket. Optio lists the same series in ×1, ×25, and ×100, so the position fits the trader: premiums from about a dollar, exposure identical per unit.
The tightest spreads in options
Every quote — both sides, every strike, all the time — is one on-chain Black-Scholes fair value ±0.5%. No market-maker edge in the touch, no nickel-wide markets on fifty-cent contracts.
No liquidations on longs. Ever.
The premium is the entire risk — no margin, no liquidation price, no funding. A leveraged perp dies on a 1% wick; your option can be under water all day and still pay at the close.
Transparent, on-chain pricing
Premiums come from a Black-Scholes engine inside a smart contract, fed by live oracles and market-derived IV. The Greeks you see on every strike are the same math that fills you.
Coverage

Coverage no other options venue has.

232 underliers and 17,000+ listed series across six asset classes — no DeFi venue trades both pre-IPO names and Asian equities, and no broker gives one account all of this.

US EQ150+
US equities & ETFs
AAPL · NVDA · TSLA · META · SPY · QQQ
The full mega-cap complex plus index ETFs, semis, AI names, miners.
INTL31
International equities
MiniMax · Zhipu AI · Pop Mart · BYD · Tencent
The names global retail actually trades — Samsung, Toyota, LVMH, Reliance — across HKEX, TSE, KRX, LSE, Euronext, BSE and more. No local broker.
CRYPTO24
Crypto
BTC · ETH · SOL · HYPE · ANSEM
Majors and momentum names, around the clock.
FX14
Forex
EUR/USD · USD/JPY · GBP/USD · AUD/USD
Majors, crosses, and EM pairs.
CMDTY15
Commodities & metals
Gold · Silver · WTI · Brent · Copper · Corn
Energy, precious and industrial metals, agriculture.
PRE-IPO12+
Pre-IPO
OpenAI · Anthropic · Stripe · xAI · Databricks
Names you can't reach through any listed-options venue.
IN DEVELOPMENT
Options on compute — and the power stack underneath it. Every AI company is short compute, and every datacenter is long power risk. We're listing the whole chain — the GPU hour and the energy complex that produces it. Building now; first listings soon.
GPU-HOURS
The market price of an hour of GPU compute. Hedge a training run, or trade the squeeze — with allocation spreads on top.
POWER
Wholesale electricity at PJM and ERCOT hubs — the grids where American datacenters actually buy their power.
HEAT RATE
Power priced in units of natural gas — generation economics as a single ratio, no legging two markets.
ZONAL BASIS
The price spread between grid zones — congestion risk that today only FTR desks can touch.
HASHPRICE
Bitcoin miner revenue per unit of hashpower — the number every mining treasury lives on, hedgeable through the halving.
WEATHER · CDD
Cooling-degree-day options at the datacenter hubs — Virginia, Dallas, Phoenix. Hot summers are cooling load; trade the demand side of the power bill.
Products

Four ways to trade it.

Options chain
Always-on AMM markets
Every listed strike quotes both sides continuously from the on-chain pricing engine — buy or sell any of 17,000+ series instantly, with Greeks inline on the chain and a full preview (breakeven, max risk, slippage bound) before you sign.
RFQ · bespoke
Custom options, quoted on request
Need a strike or expiry that isn't listed — or an asset we don't list yet? Submit an RFQ, including fully custom underliers, and whitelisted market makers compete to fill it bilaterally on-chain, with the same USDC settlement and transparent collateral.
0DTE
Same-day expiries
Zero-days-to-expiry series on major names: maximum gamma, defined risk, settled to the oracle print at the close. The premium is small because the clock is short — and the premium is still the most you can lose.
One-click hedge
Protective puts, sized to you
Holding spot — or leveraged perps — and worried about a drawdown? Buy puts against exactly the share of your exposure you want covered, 10% or 100%. Fractional contracts make the hedge match the position, not the other way around.
Options in five minutes

Never traded an option? Start here.

A call is the right to buy. A put is the right to sell.
An option gives you the right — never the obligation — to buy (a call) or sell (a put) an asset at a fixed strike price until a fixed expiry. The price of that right is the premium.
Think NVDA earnings are underpriced? The $190 call for $4.36 turns a $10 rally into roughly a $6 gain per unit — and if you're wrong, you lose $4.36, not $190. That asymmetry is the whole product:
  • Directional leverage — express a view for cents on the dollar of exposure, risk capped at the premium.
  • Hedging — a put under your holdings is an insurance policy with a visible price.
  • Income — sell options against collateral and collect the premium other traders pay.
Long call at expiry
max loss = premium paiduncapped ↑profitstrikebreakevenprice at expiry →
Holding + protective put
loss stopsat the floorupside stays openunhedged ↘put strikeprice at expiry →
Notional: what a contract actually controls
An option's premium is quoted per unit of the underlying; a contract multiplies both the premium and the exposure by its multiplier. Notional = spot × multiplier — it's the size of the exposure your premium controls, and it's why a "cheap" option can be a big position. Optio prints the multiplier on every contract and lists the same series in multiple sizes:
ContractPremiumNotional controlledWho it fits
NVDA $190C ×1$4.36$189.50first trade, precise hedges
NVDA $190C ×25$109$4,738retail size, real exposure
NVDA $190C ×100$436$18,950the US-listed standard
Where the premium comes from
A premium has two parts. Intrinsic value is what the option is worth if exercised right now. Time value is what you pay for every path the price could still take before expiry.
Optio prices both with the Black-Scholes model — spot, strike, time, rate, volatility in, fair value out — computed in a smart contract on every quote. Four of those inputs are observable. The interesting one is volatility.
IV — the price of uncertainty
Implied volatility is the market's forecast of how much an asset will move — the "insurance rate" inside every premium. Calm names carry ~20% IV; a memecoin can carry 150%. When IV rises, every option on that name gets more expensive; when it collapses (say, after earnings), premiums deflate even if the price never moved.
Optio anchors each market's IV to live options-market data, so the premium you pay tracks what the risk actually costs — and vega (below) tells you your exposure to it before you trade.
ΔDelta
How much the option's price moves when the underlying moves $1. A 0.51-delta call gains ~$0.51 per $1 rally — it also reads as a rough probability of finishing in the money.
ΓGamma
How fast delta itself changes. High gamma near the strike and near expiry is what makes options convex — winners accelerate.
ΘTheta
Time decay, per day. An option is a depreciating asset: our NVDA example bleeds ~$0.14 of its $4.36 premium each day the stock stands still.
νVega
Sensitivity to implied volatility. One IV point moves the example premium ~$0.16 — you can be right on direction and still lose if IV collapses.
Every number above is shown live on the chain before you trade — Greeks per strike, breakeven, and max risk in the preview. Want the longer course? Education hub →
Optio.
Fractional, cash-settled options on everything — on HyperEVM testnet today. Nothing on this page is investment advice.
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