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Bitcoin traders eye $15B options expiry after calls dominate OI

Roughly $15 billion of Bitcoin options are set to expire Friday, with open interest concentrated in September 25 contracts on Deribit and a put-to-call ratio of 0.70.

Reported · Written up by our desk · Market Structure

Bitcoin traders are bracing for potential volatility ahead of Friday’s quarterly Bitcoin options expiry, as about $15 billion in options contracts are set to mature at settlement.

Bitcoin Magazine reports that the September 25 contracts represent more than a third of all Bitcoin options open interest on Deribit, where a call option grants the right to buy at a set strike and a put option grants the right to sell.

According to the outlet, the put-to-call ratio sits at 0.70, indicating more traders are positioned for higher prices, with the largest call option concentrations at strike prices of $85,000, $90,000, and $100,000.

Bitcoin was recently trading around $84,258, down 2% over the past day and above the so-called max pain level of $76,000, a price at which the most options would expire worthless, while traders monitor whether $85,000 acts as a cap as expiry approaches.

Latest closeBitcoin $84,460.11 ▲0.1%

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