Around 18,400 Bitcoin options contracts are due for expiry on Friday, August 23. They have a notional value of around $1.1 billion.
Today’s options expiry event is a little smaller than last week’s, so its impact on spot markets is likely to be limited. The much larger month-end expiry event next week has a notional value of $3.5 billion.
Bitcoin Options Expiry
This week’s batch of Bitcoin options contracts has a put/call ratio of 0.83, which means that longs and shorts are more closely aligned with slightly more long (call) contracts expiring than shorts (puts). The max pain, or point at which most losses will be made, is at $60,000, which is very close to current spot prices.
Open interest, or the number of value of contracts yet to expire, is still high at strike prices above $70,000, according to Deribit. Additionally, there is around $967 million in OI at the $100,000 strike price, with bulls hanging in for a big rise in BTC prices.
On Aug. 22, crypto derivatives provider G
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