Around 28,000 Bitcoin options contracts will expire on Friday, October 3, and they have a notional value of roughly $3.37 billion.
This expiry event is back to normal following last week’s epic end of third quarter event, so there is unlikely to be any impact on spot markets, which have gained this week.
US labor market data remains weak, which puts more pressure on the Federal Reserve to reduce rates again this month, a bonus for risk-on assets such as crypto.
Bitcoin Options Expiry
This week’s batch of Bitcoin options contracts has a put/call ratio of 1.1, meaning that there are slightly more short contracts expiring than longs, as the bulls regain composure. Max pain is around $115,000, according to Coinglass.
Open interest (OI), or the value or number of Bitcoin options contracts yet to expire, is highest at $120,000, which has reached $2.2 billion at this strike price on Deribit. There is also around $1.9 billion OI at $140,000, but $100,000 is a popular strike price for short
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