Bitcoin and Ethereum Options Worth Over $1.6 Billion Set to Expire Today

Bitcoin and Ethereum Options Worth Over $1.6 Billion Set to Expire Today

Today, September 13th, marks the expiration of a significant number of crypto options contracts. According to crypto options exchange Deribit, there are approximately $1.34 billion worth of Bitcoin (BTC) options and $300 million worth of Ethereum (ETH) options set to expire at 8:00 UTC. For BTC options, the put/call ratio stands at 0.86, indicating a slightly bullish sentiment among traders. The max pain price for BTC options is $58,000, meaning that a large number of options contracts will expire worthless if the price of BTC settles below this level. The situation is similar for ETH options, with a put/call ratio of 0.73 and a max pain price of $2,400. This also suggests a slightly bullish outlook for ETH, as a majority of options contracts would expire out-of-the-money if the price of ETH falls below $2,400. The expiration of these options contracts could have a notable impact on the cryptocurrency market. If a large number of options expire worthless, it could lead to a decrease in volatility and a potential correction in the prices of BTC and ETH. Conversely, if a significant number of options expire in-the-money, it could fuel a rally in the prices of these cryptocurrencies. Traders and investors should closely monitor the expiration of these options contracts and the subsequent impact on the cryptocurrency market.