Bitcoin Options Expiry
Today is Bitcoin options expiry day, with around 37,000 contracts set to expire. While this batch is slightly larger than last week’s expiry event, it is still small compared to the upcoming massive options expiry at the end of the month. The notional value of today’s BTC contracts is $1.58 billion, and the put/call ratio is 1.02, indicating a balanced number of sellers and buyers. The maximum pain point for these options is $42,000, slightly lower than the current spot prices. Protective put options were traded more heavily this week due to the market pullback.
Ethereum Derivatives and Market Outlook
In addition to the Bitcoin options expiring today, there are also 268,000 Ethereum contracts expiring. These have a notional value of $610 million, and the put/call ratio is 0.66, indicating more calls than puts expiring. The maximum pain point for ETH options is $2,250, which aligns closely with current spot values. The total crypto market capitalization has remained flat at $1.68 trillion, suggesting continued consolidation. Bitcoin has dropped 0.8% and was trading at $42,630 at the time of writing, while Ethereum prices were flat at $2,266.
Hot Take: What Does Options Expiry Mean for Crypto Markets?
Bitcoin options expiry can have an impact on crypto markets as traders close out their positions or roll them over into new contracts. While today’s expiry event may not lead to significant price swings in the short term due to low implied volatility and balanced put/call ratios, it is worth keeping an eye on the upcoming massive options expiry at the end of the month. This could potentially create more volatility and opportunities for traders. Overall, options expiry days are important milestones to watch in the crypto market.
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