March 16, 2026 - March 18, 2026: The price of the $50M option surged from 28.65c to 41.55c (a ~13c gain). The reason is that after previous excessive pessimism, capital began to bet again on the 'mid-tier valuation' range, reasoning that as a core lending protocol on Hyperliquid, Felix's FDV is unlikely to stay below $25M, leading to a rapid price correction.
March 10, 2026 - March 12, 2026: The price of the $25M option rose steadily from 68.5c to 76.5c (an 8c gain). The reason is that after panic selling in early March, capital flowed back into the higher-certainty option, reaffirming the belief that FDV will likely exceed $25M upon launch.
March 2, 2026 - March 4, 2026: The $50M option rebounded from 29.8c to 35c as the market corrected the excessive bearishness seen in late February.
February 26, 2026 - March 2, 2026: The $100M option crashed from 27.5c to 16.5c, while the $25M option fell from 84c to 76c due to a broad downgrade in Hyperliquid ecosystem valuation expectations.