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Sujit Kumar
Oct 18, 2024
by Sujit Kumar

Bitcoin Options Expiry Sees $1.26 Billion in Contracts Set to Expire

Bitcoin Options

Table of contents

  1. Minimal Market Impact Expected
  2. Ethereum Options Also Set to Expire
    1. Market Outlook: Bullish Sentiment Builds
Around 18,500 Bitcoin options contracts, worth approximately $1.26 billion, are set to expire today, October 18. Despite this large number, the impact on spot markets is expected to be minimal due to decreasing volatility, similar to last week’s expiry.

Minimal Market Impact Expected

With declining market volatility, today’s Bitcoin options expiry event is unlikely to cause major price shifts. However, traders are keeping an eye on a much larger $4 billion Bitcoin options expiry event scheduled for the last Friday of the month.

This week’s Bitcoin options contracts have a put/call ratio of 0.86, meaning there are slightly more long (call) contracts expiring than short (put) contracts. The open interest (OI) remains significant, with over $1 billion at the $70,000 strike price and another billion dollars at the $100,000 strike price, indicating growing confidence among bullish traders.

Ethereum Options Also Set to Expire

In addition to Bitcoin, approximately 137,000 Ethereum options, worth $367 million, are also expiring today. The Ethereum options have a put/call ratio of 0.62, showing a greater proportion of long positions. Combined, today’s crypto options expiries amount to over $1.6 billion for the week.

Market Outlook: Bullish Sentiment Builds

The crypto market saw a slight dip in total market capitalization today, declining to $2.42 trillion. Despite this, Bitcoin surged to a ten-week high, touching $68,159 during early Friday trading in Asia. BTC has gained nearly 12% over the past week, with many analysts predicting a potential breakout.

Meanwhile, most altcoins remain in the red, with Ethereum facing resistance at the $2,650 level, while Dogecoin (DOGE) rose by 6% to hit $0.132.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Bitcoin Options Expiry Sees $1.26 Billion in Contracts Set to Expire
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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