Around 80,000 Bitcoin options contracts will expire on Friday, Jan. 30, and they have a notional value of roughly $8.36 billion.
This week’s expiry event is a large one because it is the end of the month. However, crypto derivatives expiry events such as this rarely influence spot markets, which have remained relatively flat this week.
Bitcoin Options Expiry
This week’s batch of Bitcoin options contracts has a put/call ratio of 0.68, which means that there are more call (long) contracts expiring than puts (shorts).
Moreover, open interest (OI), or the value or number of BTC options contracts yet to expire, is highest at the $120,000 strike price, which is $2.4 billion, according to Deribit.
There is also around $1.65 billion in OI at the $110,000 strike price, as derivatives traders continue to speculate that BTC prices will rise from current levels.
Earlier this week, crypto derivatives provider Greeks Live said the “longer-term outlook remains constructive with expectations of
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