Will Markets Move Higher as $4.9B Crypto Options Expire
Main Idea
Around 35,000 Bitcoin options contracts with a notional value of $4.1 billion are set to expire on August 8, with market activity showing a put/call ratio of 1.38 and a max pain point of $115,000.
Key Points
1. The Bitcoin options expiry event is smaller than the previous week's, with a put/call ratio of 1.38 and a max pain point of $115,000.
2. Open interest (OI) is highest at the $140,000 strike price, surging to nearly $3 billion on Deribit, with $2.3 billion OI at the $120,000 strike price.
3. Traders are actively selling puts at the $112,000 strike price despite a 32% volatility dip.
4. Combined crypto options expiry notional value for Friday is around $4.9 billion, including Ethereum options with a notional value of $792 million.
5. Bitcoin reclaimed $117,500 in early trading before retreating slightly, while Ethereum surged 6% to near $3,900, and XRP gained 11% after Ripple Labs and the SEC filed to drop legal appeals.
Description
Around 35,000 Bitcoin options contracts will expire on Friday, August 8, and they have a notional value of roughly $4.1 billion. This expiry event is smaller than last week’s , so it is unlikely to be enough to influence spot markets, which have started to recover following news in the US that Donald Trump has allowed BTC in pensions . Bitcoin Options Expiry This week’s batch of Bitcoin options contracts has a put/call ratio of 1.38, meaning that there are many more short contracts expiring than...
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