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Bitcoin puts dominate options expiry ahead of US CPI

Deribit data shows about 15,502 BTC in Oct. 16 options, with puts concentrated at $76,000 to $80,000 strikes and a put-to-call ratio of 1.4.

Reported · Written up by our desk · Market Structure

Ahead of Wednesday’s US CPI report, Bitcoin options expiring Friday show heavy downside positioning below the current market level, while priced short term volatility has eased, according to CryptoSlate.

In an Oct. 12 snapshot from Coinbase-owned Deribit, the Oct. 16 settlement listed about 15,502 BTC in outstanding contracts, split between 9,128 BTC in puts and 6,373 BTC in calls. The put-to-call ratio was 1.43, and underlying notional exposure in puts was concentrated around the $76,000, $78,000 and $80,000 levels.

Deribit data put the largest concentration of puts at the $80,000 strike, at about $188 million in underlying notional exposure, with another $162 million at $78,000 and roughly $101 million at $76,000. Combined, those three strike levels accounted for nearly 35% of the $1.29 billion options expiry, highlighting the scale of downside positioning after Bitcoin’s recent selloff.

Latest closeBitcoin $81,723.06 ▼2.3%

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