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NVDA options configuration

The reference configuration for the NVDA Dated Options contract:

ParameterValue
Product typeDated European Option
Symbol formatNVDA-USD-{Expiry}-{Strike}-{Type}
Base currencyNVDA
Quote currencyUSD
Settlement currencyUSDC
Settlement time16:00 UTC
Price tick size0.001 USD
Order size increment1 NVDA
Minimum order value20 USD
Maximum order size2,000 NVDA
Maximum open orders150
Position limit20,000 NVDA
Spot band factor50%
IV band factor50%

Index and settlement price

NVDA options are priced off the Paradex NVDA Spot Oracle Price, the same index used by the NVDA-USD-PERP perpetual, and settle at the 30-minute TWAP of that price ending at expiry. The Spot Oracle Price is computed as a weighted median of the sources below. Each source has a score; its weight is that score divided by the total score of the sources available at the time, so weights differ between market open and closing hours.

SourceDescriptionScoreAvailability
PythPyth NVDA equity index3Open hours
StorkStork NVDA oracle price2Open hours
BinanceBinance NVDA index price1Open hours
BybitBybit NVDA index price124/7
HyperliquidHyperliquid NVDA index price124/7
OKXOKX NVDA index price124/7
LighterLighter NVDA index price0.724/7
Closing PriceParadex NVDA spot price at the market closing timestamp0.5Closing hours
Internal PriceEMA of the Paradex NVDA-USD-PERP mark price with a 1-hour half-life, initialised at the Closing Price0.5Closing hours
SourceScoreWeight
Pyth330.93%
Stork220.62%
Binance110.31%
Bybit110.31%
Hyperliquid110.31%
OKX110.31%
Lighter0.77.22%
Total9.7100%

Market hours

NVDA options follow the equities session: open 24/5 from Sunday 8:00 PM ET to Friday 8:00 PM ET, including pre-market, regular, post-market and overnight sessions. Weekends are closing hours.

Example

To find the Spot Oracle Price, sort the source prices from lowest to highest and add up their scores in that order. The Spot Oracle Price is the first price at which the running total goes above half of the total score. If the running total lands exactly on half, the price is the average of that source’s price and the next one. A source with no fresh price is left out, and the total is recomputed from the sources that remain.

The prices below are illustrative.

Total score is 9.7, so half is 4.85.

SourcePriceScoreCumulative score
Lighter166.600.70.7
Bybit166.8011.7
OKX166.9512.7
Hyperliquid167.1013.7
Binance167.2514.7
Stork167.4026.7 ← first above half
Pyth167.7039.7

The NVDA Spot Oracle Price is 167.40 (Stork).

Mark and settlement price

  • Mark price: the Spot Oracle Price is the spot input SS to the synthetic forward used by the Black-76 mark price.
  • Settlement price: options settle at 16:00 UTC on the expiry date using a 30-minute TWAP of the Spot Oracle Price ending at expiry.

See TradFi Price Oracle for the methodology across all TradFi markets.

Margin Configuration