There are roughly 21,000 Bitcoin options contracts due to expire on Friday, April 12. These have a notional value of around $1.5 billion, which is slightly higher than last week’s expiration event.
Additionally, crypto markets have been relatively stable this week, with total capitalization hovering at just over $2.7 trillion, and Bitcoin is dominating market movements.
Bitcoin Options Expiry
Today’s tranch of expiring Bitcoin derivatives has a put/call ratio of 0.62, meaning there are almost twice as many call (long) contracts expiring as puts (shorts).
The max pain point, or price at which most losses will be made on expiry, is $69,000, a little lower than current spot prices.
The bulls appear to be dominating derivatives markets at the moment, with a lot of open interest (OI) at strike prices of above $70,000. The $80,000 and $100,000 strike prices are popular, with $880 million and $934 million in OI, respectively, according to Deribit.
“Volatility levels in the crypto marke
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