$2.4B Worth of BTC and ETH Options Expire Today

$2.4B Worth of BTC and ETH Options Expire Today

The crypto options market is set to see a significant event today, June 7, as $2.4 billion worth of bitcoin (BTC) and ethereum (ETH) options are set to expire at 5:00 pm UTC. According to data from crypto options exchange Deribit, $1.24 billion worth of BTC options are set to expire today, while $980 million worth of ETH options will also expire at the same time. The put/call ratio for BTC options is currently 0.67, which means that there are more put options (bets that the price of BTC will fall) than call options (bets that the price of BTC will rise). The max pain price for BTC options is $70,000, which means that this is the price at which the most options will expire worthless. The put/call ratio for ETH options is currently 0.64, which means that there are more put options than call options. The max pain price for ETH options is $3,650, which means that this is the price at which the most options will expire worthless. The expiration of these options contracts could have a significant impact on the price of BTC and ETH. If the price of BTC falls below $70,000, it could trigger a sell-off as put option holders exercise their options and sell their BTC. Similarly, if the price of ETH falls below $3,650, it could trigger a sell-off as put option holders exercise their options and sell their ETH. However, it is important to note that the expiration of options contracts does not always have a significant impact on the price of the underlying asset. In some cases, the expiration of options contracts can actually lead to a decrease in volatility as the market becomes less uncertain about the future price of the asset.