Approximately 20,000 Bitcoin options contracts will expire on Friday, Jan. 3, in the first such event of 2025.
They have a notional value of $1.93 billion, which is a fraction of last week’s mammoth end-of-year expiry event, so the impact on spot markets is likely to be minimal.
Bitcoin Options Expiry
This week’s batch of Bitcoin options contracts has a put/call ratio of 0.68, meaning that there are more long (call) contracts expiring than short (put) contract sellers.
Open interest, or the value or number of options contracts yet to expire, is highest at the $120,000 strike price, with $1.4 billion in OI, according to Deribit. There is also $1.3 billion in OI at $110,000, so derivatives traders remain bullish with open contracts at higher strike prices.
Bitcoin options OI by expiry. Source: Deribit
On Jan. 2, Deribit reported that the continuous trading market, or perpetual swaps, is showing more optimistic signals, similar to what was seen before the recent downturn.
“Options m
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