Around 24,600 Bitcoin options contracts will expire on Friday, Mar. 20, with a notional value of roughly $1.7 billion. This event is smaller than last week’s, which was also quite negligible, so it is unlikely to affect spot markets.
Crypto prices have been in decline over the past few days following the Federal Reserve’s hawkish outlook for the rest of the year. Total capitalization has declined by $75 billion since Monday, and volatility and volumes have dwindled.
Bitcoin Options Expiry
This week’s batch of Bitcoin options contracts has a put/call ratio of 0.96, meaning that the longs and the shorts are relatively evenly matched. Max pain is around $70,000, according to Coinglass, which is pretty close to current spot prices, so many could be in the money on expiry.
Open interest (OI), or the value or number of Bitcoin options contracts yet to expire, remains highest at the $60,000 strike price on Deribit, with $1.5 billion in bearish bets. Total BTC options OI across all excha
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