$2.5B Bitcoin Options Expiry: Market Impact Ahead?

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Friday has arrived again, and that means another batch of Bitcoin and Ethereum options are due to expire, while spot markets remain mostly sideways.  

Around 27,000 Bitcoin options contracts will expire on Friday, May 2, and they have a notional value of roughly $2.54 billion.

This week’s event is around average compared to previous weeks, while derivatives crypto trading has remained muted as spot markets show signs of recovery.

Bitcoin Options Expiry
This week’s batch of Bitcoin options contracts has a put/call ratio of 1, meaning that the short and long contract sellers are evenly matched. There is also a max pain point of $90,000, which is where most losses will be made on expiry.

Moreover, open interest (OI), or the value or number of BTC options contracts yet to expire, is highest at the $100,000 strike price, with around $1.5 billion, indicating a bullish shift in sentiment as derivatives speculators bet on higher prices.


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