Around 31,000 Bitcoin options contracts will expire on Friday, Dec. 19, and they have a notional value of roughly $2.7 billion. This expiry event is smaller than average, so it will not impact spot markets, which have been sliding lower all week.
Various factors have contributed to the continued sell-off, including another Chinese Bitcoin mining crackdown, delayed crypto market regulations in the United States, and fear over the Bank of Japan hiking rates.
Bitcoin Options Expiry
This week’s batch of Bitcoin options contracts has a put/call ratio of 0.8, meaning that there are slightly more calls expiring than puts (shorts). Max pain is around $88,000, according to Coinglass.
Open interest (OI), or the value or number of Bitcoin options contracts yet to expire, is highest at $100,000, which has $2.3 billion at this strike price on Deribit. There remains around $2.1 billion in OI at $85,000, which was hit this week. Total BTC options OI across all exchanges is at $52.5 billion, accor
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