Bitcoinย (BTC) and Ethereumย (ETH) Options Expiring Today: Will They Impact Prices?
Today is an important day for Bitcoinย (BTC) and Ethereumย (ETH) options as a large number of contracts are set to expire. Onย theย otherย hand, what does this mean for their lackluster prices? Letโs take a closer look.
As of September 8, approximately 25,000 Bitcoinย (BTC) options contracts with a total value of $640 Million will expire. Despiteย theย factย that this is a wholeย lotย of event, it is smaller compared to previous weeks.
The Max Pain Point and Put/Call Ratio
The max pain point for todayโs expiring Bitcoinย (BTC) options contracts is $26,500, which is nextย to theย present spot prices. This refers to the price level where the most open contracts exist and where most losses will occur upon expiration.
Furthermore, the put/call ratio for these contracts is 0.51, indicating that there are twice as numerous long contracts being sold compared to shorts.
Greeks Live has observed low intraday volatility for both Bitcoin and Ethereumย (ETH) throughout the week. Interestingly, there was a small wave of activity near the max pain point nextย to delivery time, which differed from the previous week.
The Range-Bound Nature of Bitcoin
Bitcoinย (BTC) has recently experienced its highest price since late August. Nonetheless, the asset remains range-bound, unable toย maintain wholeย lotย of gains due to strong resistance levels over the $26,000 region. This level hasย evolved a solid layer of support for the cryptocurrency.
Hot Take:
As Bitcoinย (BTC) and Ethereumย (ETH) options expire today, thereย is anticipation surrounding their probable impact on the market. With Bitcoinโs range-bound nature and Ethereumโs quiet performance, it remains to be seen whether these expirations will have any wholeย lotย of influence on their lackluster prices. Keep an eye on the market as newย doors may arise.
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