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About $1.2B in Bitcoin options exposure expires, prices jump
Bitcoin traded around $66,200 on Tuesday after the July 17 options expiry, while about 19,000 BTC options contracts with $1.2B notional settled and rolled off open interest.
Crypto options expiries helped clear a key pocket of hedging exposure in Bitcoin, after July 17 settlement removed roughly $1.2 billion in notional exposure tied to about 19,000 Bitcoin options contracts, according to CryptoSlate.
Following that expiry, Bitcoin moved higher, trading around $66,200 on Tuesday, up about 2.9% on the day and roughly 5% on the week, as it pushed against a $65,700 resistance-turned-support level that had struggled to hold all month.
CryptoSlate said the contracts settled with a notional value near $1.2 billion, a put-call ratio of 0.9, and a maximum-pain level at $63,000, where option sellers would have paid out the least. The outlet also noted that this size of expiry was not large enough to force a lasting price move on its own, especially given that the comparable July 10 batch cleared about 7% of outstanding options.
Ethereum also saw options roll off, with about 123,000 contracts worth roughly $230 million settling July 17, and a put-call ratio of 1.61 reflecting stronger demand for downside protection. Combined, the crypto options expiry removed about $1.43 billion in notional exposure, while US spot Bitcoin ETFs logged five consecutive inflow sessions and two straight weeks of net positive flows, led by BlackRock’s IBIT, the outlet added.
Latest closeBitcoin $66,568.55 ▲2.0%|Ethereum $1,925.40 ▲1.1%