Bitcoin Options Expiry Today: $3.65 Billion in Contracts Set to Expire
Approximately 62,000 contracts for Bitcoin options are set to expire today. Their notional value is around $3.65 billion. Due to the end of the month, today’s option expiry event is quite significant. Nevertheless, these movements in derivatives rarely rattled spot markets, which function more as a gauge of sentiment in the market.
- With a put/call ratio of 0.59 for this week’s large batch of Bitcoin options contracts, nearly twice as many long (call) contracts as short (put) contracts are expiring.
- According to Deribit, open interest—the total value of contracts that have not yet expired—remains high at strike prices of $70,000 and $75,000.
- Furthermore, there are still $987 million at a $100,000 strike price and about $793 million at a $90,000 strike price in open interest.
Crypto Market Loses $200B This Week as Ethereum and Bitcoin Options Expire
Ethereum contracts with a notional value of $1.35 billion are also expiring, in addition to the Bitcoin options that are expiring today. With a put/call ratio of 0.50, there are precisely twice as many long contracts as short ones among the 536,000 contracts. With $373 million in open contracts, the $4,000 strike price has the largest OI. Greeks Live admitted that the market had been polluted with false information about Ethereum.
All Fud ETH lately, and it’s true that ETH has been weak for a long time, and practical applications have been lackluster. But the market seems to be too pessimistic, and the options market has seen a number of Block options plunge in the last two days.
Greeks Live
The entire capitalization of cryptocurrency markets has decreased by over $200 billion this week. The digital asset market had dropped 1.87% on the day and was now valued at $2.08 trillion.
- The price of Bitcoin fell down to $59,434 during the Friday morning Asian trading session after it reached an intraday high of $61,000.
- The price of ether fell back to $2,512 at the time of writing, having closed in on $2,600.
- A week or so after the retreat, the altcoins were mixed but essentially flat.
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