$3.66 Billion Worth of Bitcoin Options Set to Expire Today

IconCryptoNewsTerminal Staff29 Aug, 2024

cryptonews.jpg

$3.66 Billion Worth of Bitcoin Options Set to Expire Today

$3.66 Billion Worth of Bitcoin Options Expire Today: What to Expect According to crypto options exchange Deribit, approximately $3.66 billion worth of bitcoin (BTC) options will expire on August 30 at 8:00 UTC. This significant event is expected to impact the BTC market, as options traders close out their positions and adjust their strategies. The put/call ratio for these expiring options currently stands at 0.59, indicating a slight bias towards put (sell) options. This suggests that more traders are betting on a potential decline in BTC's price. The max pain for these options is set at $61,000, meaning that the largest number of option buyers will lose money if BTC's price settles below this level at the time of expiry. In addition to BTC options, approximately $1.36 billion worth of Ethereum (ETH) options will also expire on August 30. The put/call ratio for ETH options is 0.49, indicating a greater bias towards call (buy) options. The max pain for these options is set at $2,800. The expiration of these options contracts is likely to generate significant volatility in the crypto market. Traders should monitor the price action of BTC and ETH closely and adjust their strategies accordingly.

Related News