Crypto Market Braces for a Robust $6.36B Options Expiry Today
TL;DR
- The market faces a Bitcoin options expiry worth $6.36 billion on Deribit, with nearly 81,000 contracts set to expire.
- The max pain point sits at $69,000, while BTC trades around $80,000 with a put/call ratio of 0.85.
- QCP Research warned that the latest rally was partly driven by short covering, which could make it fragile without fresh demand.
The options market for Bitcoin faces one of its most significant short-term tests of the year today. Deribit, the leading crypto derivatives platform, records an expiry worth $6.36 billion with approximately 81,000 contracts about to expire. Bitcoin is trading around $80,000 following a steep surge of more than $16,000 in less than a week.
The expiry presents a put/call ratio of 0.85, indicating a slight predominance of call contracts over puts. Buy positions become more significant starting at $66,000, with considerable concentrations in ranges such as $70,000–$72,000, $74,000–$75,500, and $78,500–$80,500. The max pain point sits at $69,000, the theoretical level at which the combined loss for options holders would be at its lowest.
… Continue reading the full article at the original source below.
