Around 16,500 Bitcoin options contracts will expire on Friday, Feb. 21, and they have a notional value of roughly $1.6 billion.
This week’s expiry event is smaller than last week’s and one of the tiniest of the year, which means there will be virtually no impact on spot markets, which have been range-bound for most of the week.
Bitcoin Options Expiry
This week’s tranche of Bitcoin options contracts has a put/call ratio of 0.75, meaning that there are slightly more call (long) contracts expiring than puts (shorts).
Moreover, open interest (OI), or the value or number of BTC options contracts yet to expire, still remains highest at the $120,000 strike price, which is $1.8 billion, according to Deribit.
There is also around $1.2 billion in OI at the $110,000 strike price, as derivatives traders continue to speculate that BTC prices will rise in the longer term. Earlier this week, crypto derivatives provider Greeks Live said sentiment was “cautiously bearish,” with low volatilit
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