Bitcoin Options Expiry Day Sees Open Interest Soar to $640M on Friday

Bitcoin Options Expiry Day Sees Open Interest Soar to $640M on Friday


Bitcoin (BTC) and Ethereum (ETH) Options Expiring Today: Will They Impact Prices?

Today is an important day for Bitcoin (BTC) and Ethereum (ETH) options as a large number of contracts are set to expire. On the other hand, what does this mean for their lackluster prices? Let’s take a closer look.

As of September 8, approximately 25,000 Bitcoin (BTC) options contracts with a total value of $640 Million will expire. Despite the fact that this is a whole lot of event, it is smaller compared to previous weeks.

The Max Pain Point and Put/Call Ratio

The max pain point for today’s expiring Bitcoin (BTC) options contracts is $26,500, which is next to the present spot prices. This refers to the price level where the most open contracts exist and where most losses will occur upon expiration.

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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 Ethereum (ETH) throughout the week. Interestingly, there was a small wave of activity near the max pain point next to delivery time, which differed from the previous week.

The Range-Bound Nature of Bitcoin

Bitcoin (BTC) has recently experienced its highest price since late August. Nonetheless, the asset remains range-bound, unable to maintain whole lot of gains due to strong resistance levels over the $26,000 region. This level has evolved a solid layer of support for the cryptocurrency.

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Hot Take:

As Bitcoin (BTC) and Ethereum (ETH) options expire today, there is anticipation surrounding their probable impact on the market. With Bitcoin’s range-bound nature and Ethereum’s quiet performance, it remains to be seen whether these expirations will have any whole lot of influence on their lackluster prices. Keep an eye on the market as new doors may arise.

Author – Contributor at | Website

Bernard Nicolai emerges as a beacon of wisdom, seamlessly harmonizing the roles of crypto analyst, dedicated researcher, and editorial virtuoso. Within the labyrinth of digital assets, Bernard’s insights echo like a resonant chord, touching the minds of seekers with diverse curiosities. His talent for deciphering the most intricate strands of crypto intricacies seamlessly aligns with his editorial finesse, transforming complexity into a captivating narrative of comprehension.

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