Key Points:
– Deribit, the world’s leading crypto options exchange, will settle BTC and ETH options contracts worth $1.9 billion and $893 million, respectively.
– The “max pain” levels for BTC and ETH settlements are currently at $28,000 and $1,800.
– Writers or sellers of call and put options often try to push the spot price towards the max pain level to make options buyers suffer.
– BTC and ETH could trade close to the max pain points in the next 24 hours.
– Buyers of BTC and ETH put options are the clear winners heading into the expiry.
Hot Take:
As the expiry date for BTC and ETH options contracts approaches, buyers of put options stand to benefit the most. With a significant number of put options currently in-the-money, these buyers have the opportunity to sell the underlying assets at a higher price than the current market rate. This situation is likely to result in BTC and ETH trading close to the max pain levels in the next 24 hours. However, once the expiry is over, these max pain points will become irrelevant. Deribit’s dominance in the global crypto options activity further solidifies its position as the go-to exchange for crypto options traders.
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