Features

How it Works

Why Premarket

Markets

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BY STRYKE.XYZ

Trade premarket options on anything IPOs, TGEs, RWAs, and more

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Launching Soon

Trade Before Launch

PreMarket enables you to trade options on assets before they officially launch. Capture alpha opportunities in IPOs, TGEs, RWAs, and emerging markets.

IPOs & TGEs

Trade premarket options on upcoming token generation events and initial public offerings

Real World Assets

Access premarket opportunities for tokenized real-world assets before they go live

Universal Coverage

From traditional markets to DeFi—trade premarket options on virtually anything

How it Works

FDV bands transform vague speculation into structured, measurable conviction with bounded risk

The Mechanism

Premarket organizes belief around FDV bands — price ranges that define your upside based on where an asset lists.

Example:

Buy exposure to the "$3-5B" band for $100 per $1B width = $200 premium

Lists at $6B? You earn the full $200 (net profit: $100)

Bands below the listing FDV pay full

Containing band pays partial (linear)

Higher bands expire worthless

Why It Matters

This design replaces binary speculation ("will it pump?") with structured payoff curves.

For Traders

Express conviction with known maximum exposure upfront — no unlimited downside

For Projects

Reference market-formed FDV curves for treasury planning and immunize from FDV criticism

For Markets

Continuous discovery of fair valuation before launch — like options markets imply volatility

Settlement Example

Settlement Example

Settlement Example

How payoffs work across different FDV bands when a token lists at $6B

How payoffs work across different FDV bands when a token lists at $6B

How payoffs work across different FDV bands when a token lists at $6B

Below Listing

FDV BAND

$3-5B

Premium Paid

$60

PAYOUT

$200

$200

$200

+$140 (+233%)

+$140 (+233%)

+$140 (+233%)

Full Payment

FDV BAND

$5-7B

Premium Paid

$40

PAYOUT

$100

$100

$100

+$60 (+150%)

+$60 (+150%)

+$60 (+150%)

Partial(Linear)

Contains Listing

FDV BAND

$7-10B

Premium Paid

$20

PAYOUT

$0

$0

$0

-$20 (-100%)

-$20 (-100%)

-$20 (-100%)

Expires Worthless

Above Listing

Key Insight: Risk capped at the premium paid. Settlement uses TWAP across venues to prevent manipulation.

Key Insight: Risk capped at the premium paid. Settlement uses TWAP across venues to prevent manipulation.

Key Insight: Risk capped at the premium paid. Settlement uses TWAP across venues to prevent manipulation.

Key Insight: Risk capped at the premium paid. Settlement uses TWAP across venues to prevent manipulation.

Why Premarket?

Purpose-built for all crypto markets

Purpose-built for all crypto markets

FDV bands and outcome-based settlement solve core problems that plague perpetual and traditional options trading

Capped Risk

No liquidations, no margin calls, no funding bleed. Maximum loss = premium paid.

Graduated Payoffs

FDV bands provide partial wins—not binary all-or-nothing outcomes at fixed strikes.

Market Creation

Trade pre-launch or create markets for existing assets. Transparent FDV probability curves in real-time.

Feature

Traditional

Risk Management

Poor

Unlimited liquidation risk with leverage. Can lose more than initial capital with funding rate exposure.

excellent

Capped downside—maximum loss is premium paid. No liquidations, no margin calls, no funding rates.

Market Timing

none

Cannot trade before asset launches. Miss pre-listing alpha and fair value discovery.

excellent

Trade pre-launch or create markets for existing assets. Capture early conviction with structured payoff curves.

Price Discovery

limited

Binary directional bets. No granular view of community valuation expectations across ranges.

excellent

FDV bands reveal market-formed probability distribution. Transparent conviction across valuation ranges.

Capital Efficiency

limited

Requires over-collateralization. Funding rates bleed positions. High liquidation buffer needed.

excellent

Pay only premium upfront. No ongoing costs, no maintenance margin, no funding bleed.

Risk Management

Poor

Traditional

Unlimited liquidation risk with leverage. Can lose more than initial capital with funding rate exposure.

excellent

Capped downside—maximum loss is premium paid. No liquidations, no margin calls, no funding rates.

Market Timing

Poor

Traditional

Cannot trade before asset launches. Miss pre-listing alpha and fair value discovery.

excellent

Trade pre-launch or create markets for existing assets. Capture early conviction with structured payoff curves.

Price Discovery

Traditional

limited

Binary directional bets. No granular view of community valuation expectations across ranges.

excellent

FDV bands reveal market-formed probability distribution. Transparent conviction across valuation ranges.

Capital Efficiency

Traditional

limited

Requires over-collateralization. Funding rates bleed positions. High liquidation buffer needed.

excellent

Pay only premium upfront. No ongoing costs, no maintenance margin, no funding bleed.

Market Applications

From event prediction to crypto options and futures—Premarket's flexible infrastructure supports diverse market structures

BTC ETF Approval Q1 2026

Political

$2.3M

Volume

52% Democrat

Republican 48%

2028 US Election

Political

$2.3M

Volume

52% Democrat

Republican 48%

Prediction Markets

Binary Event Outcomes

Trade on real-world events with transparent, market-driven odds. From elections to approvals.

Binary YES/NO outcomes

Binary YES/NO outcomes

Binary YES/NO outcomes

Real-time probability updates

Real-time probability updates

Real-time probability updates

Cash-settled on event resolution

Cash-settled on event resolution

Cash-settled on event resolution

Transparent oracle verification

Transparent oracle verification

Transparent oracle verification

Hyperliquid Options

Political

Layer 1

$2.3M

Volume

52% Democrat

Republican 48%

Monad TGE

Layer 1

$4.2M

Volume

45% <$2B

35% 2-5B

20% >$5B

Tokenized Options Markets

Structured Asset Exposure

Trade options on token launches or IPOs with FDV bands that define payoff curves based on listing valuations.

FDV band structure for upside capture

FDV band structure for upside capture

FDV band structure for upside capture

Physical or cash settlement options

Physical or cash settlement options

Physical or cash settlement options

TWAP pricing across multiple venues

TWAP pricing across multiple venues

TWAP pricing across multiple venues

Capped downside risk (premium only)

Capped downside risk (premium only)

Capped downside risk (premium only)

Monad Token Futures

Political

Equity

$2.3M

Volume

52% Democrat

Republican 48%

SpaceX IPO Forward

Equity

$12.5M

Volume

$200B Forward Price

(6m)

Futures Markets

Forward Price Discovery

Lock in forward prices on assets before they launch. Perfect for hedging exposure or capturing forward premiums.

Forward contracts with fixed prices

Forward contracts with fixed prices

Forward contracts with fixed prices

Hedge pre-launch exposure

Hedge pre-launch exposure

Hedge pre-launch exposure

Contango/backwardation curves

Contango/backwardation curves

Contango/backwardation curves

Mark-to-market settlements

Mark-to-market settlements

Mark-to-market settlements

All market types share the same core infrastructure

PRM Tokens tradable on Orderbooks → On-chain price discovery → Tokenized settlement via PRMs

Unified liquidity pools

Cross-market margining

Transparent oracle feeds

Live Market Examples

Explore premarket options across different asset classes with flexible FDV bands and settlement options