Around 27,600 Bitcoin options contracts will expire on Friday, April 3, with a notional value of roughly $1.8 billion. This event is smaller than usual, so it is unlikely to have any impact on spot markets.
Crypto prices have been mostly sideways this week, with total capitalization dipping on Friday.
Bitcoin Options Expiry
This week’s batch of Bitcoin options contracts has a put/call ratio of 0.54, meaning that there are many more longs than shorts expiring. Max pain is around $68,000, according to Coinglass, which is 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 exchanges has fallen back following the end of the Q1 expiry event and is currently 31 billion.
Bitcoin put (short) options are more expensive than those on Ethereum across multiple all-time f
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