Hypercall, an on-chain options platform built on Hyperliquid, plans to launch an options market linked to Anthropic ahead of an IPO, with trading expected to start Monday. According to Odaily, Hypercall describes it as the first market of its kind.

The market is expected to run around the clock and be available in selected jurisdictions outside the United States, but not to U.S. customers. It will support call and put options, as well as spread strategies. The contracts will be synthetic, cash-settled derivatives; traders will not own Anthropic shares or receive voting rights. Settlement amounts will be calculated using the strike price and the reference price at expiration.

An existing Anthropic-linked perpetual contract on Hyperliquid could provide a hedging channel for options market makers. Hypercall also offers options linked to SpaceX, the S&P 500, Bitcoin and Ethereum. Founder Jake Sylvestre previously disclosed that the platform recorded $536 million in options notional trading volume in September.