Crypto News – The largest Bitcoin option expiration is today, and there is $730 million in total open interest, including Ethereum options. The cryptocurrency markets have fallen back this week and are once again in a stagnant position.
Bitcoin Option Expiry Ends as of October 6, Curious Whether Options Will Make a Last Rally
A total of 14,000 Bitcoin option contracts with a notional value of almost $400 million will expire on October 6. It was the end of the month and the quarter last week. Therefore, today’s options expiry event is not as significant as that one.
Today’s options have a put/call ratio of 0.89, which indicates that long and short sellers are fairly evenly matched. The increase for the week was driven by Bitcoin, according to Greeks Live, but major implied volatility is still low. A reduced volume in Asia time was also attributed to holiday-related considerations. It stated that October and the fourth quarter had historically been on the rise.
Puts position share remains high and with liquidity continuing to deteriorate lately, the big market could be coming this month.
Greeks Live
Ethereum Options Contract Also Expires Today
On October 6, some 200,000 Ethereum option contracts are also scheduled to expire. The combined value of the two is $730 million, with a notional value of $330 million for each. Additionally, the put/call ratio for Ethereum contracts is 0.87, which is extremely comparable to the ratio for BTC derivatives. On the other hand, the options expiry event this week is unlikely to have an effect on spot markets because they have been declining.
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