Around 62,600 Bitcoin options contracts are expiring on Friday, Oct. 25, with a notional value of around $4.26 billion.
Today’s options expiry is a month-end event, which makes it much larger than regular weekly expiries. Moreover, spot markets have been in decline since their high on Monday, so can the trend be reversed?
Bitcoin Options Expiry
This week’s big batch of Bitcoin options contracts has a put/call ratio of 0.66, meaning that there are significantly more long (call) contracts expiring than shorts (puts).
Additionally, open interest (OI), or the value or number of open options contracts yet to expire, remains high at the strike price of $70,000, with over a billion dollars, according to Deribit.
There is also a whopping $1.2 billion in OI at the $80,000 strike price, suggesting the derivatives bulls are getting confident that market momentum will continue.
Additionally, Bitcoin futures OI reached record highs earlier this week, topping $40 billion, according to Coinglass
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