Hypercall says it is launching the first options market tied to Anthropic ahead of the company's IPO. Trading is expected to begin Monday, but IPO odds on prediction markets have dropped this week.
Hypercall, an onchain options platform, expects trading to begin Monday on what it says is the first options market tied to Anthropic. Founder Jake Sylvestre and growth and marketing head Dan Edlebeck told The Block that the contracts will trade around the clock and will not be available to U.S. customers.
The options are synthetic, cash-settled derivatives, so traders will not own actual Anthropic shares or receive voting rights when a contract expires. Sylvestre said the platform supports everything from basic calls and puts to more advanced spreads and strategies.
Perpetual futures give market makers a hedge
Hypercall is built on Hyperliquid, where existing Anthropic-linked perpetual futures let market makers hedge the risk of selling options before the company's shares trade publicly. According to Edlebeck: "We're able to provide options on these assets before anyone else can," he said.
The platform already offers options tied to SpaceX and the S&P 500, as well as bitcoin and ether, according to the executives. Sylvestre previously reported that Hypercall handled $536 million in options notional trading volume for September.
IPO odds slip on prediction markets
The rollout comes as traders grow less confident that Anthropic will go public this month. On Polymarket, the chances of a November IPO fell from roughly 88% Tuesday to as low as 51% by Thursday, while the probability of a January 2027 debut jumped from less than 1% to nearly 17%.
A similar market on Kalshi put the chances of an IPO before Dec. 1 at 60%, down from around 88%. Technology shares also sold off on Thursday, with the Nasdaq falling around 6% during the session amid concerns around AI infrastructure spending.
Sylvestre said the market backdrop changed his concerns about pricing the options, from a post-IPO rally to a potential slump. Anthropic filed its S-1 on Oct. 26, with plans to list on the Nasdaq under the ticker ANT.
Source: The Block
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