March 29 is an end-of-quarter Bitcoin options expiry event, and it is a big one. There are approximately 135,250 BTC options contracts expiring today.
The notional value of today’s big batch of Bitcoin derivatives is a whopping $9.74 billion, making it the largest expiration event so far this year, according to Deribit.
The put/call ratio for today’s huge tranche is 0.85, meaning there are slightly more long contracts being sold than shorts. There are more than a billion dollars in open interest (OI) at the $65,000 and $70,000 strike prices, with the latter being closer than current spot prices.
Bulls appear to be dominating the derivatives markets with almost a billion dollars in OI at much higher strike prices, including $75,000 and even $100,000.
OI refers to the number or value of contracts that are still open and have yet to be settled.
Bitcoin OI by expiry. Source: Deribit
Crypto derivatives tooling provider Greeks Live reported the total value of crypto options for today’s expiry event.
It also noted that the $70,000 strike price “is very hotly contested,” with the call currently holding the second-largest options contract. Deribit reports it as being slightly larger than the $65,000 strike price for calls.
In addition to the massive batch of Bitcoin contracts, around 1.58 million Ethereum options contracts will also expire on March 29. These have a notional value of around $5.67 billion and a put/call ratio of 0.63, which means more calls than puts expiring today.
Strike prices at $4,000 and $3,000 have a lot of OI, with the former being the greater notional value, which is around $700 million.
Spot markets are not usually impacted by derivatives expiration, but today’s event is a large one, so there could be some additional volatility.
Total capitalization is up 2% on the day, reaching $2.77 trillion during the Asian trading session on Friday morning.
Bitcoin has been hovering at resistance of just over $70,000 for the best part of the past 24 hours, where it remains.
Ethereum prices were trading around the $3,500 area, where they have been for the past 18 hours.
The post A Whopping $15B in Crypto Options Are About to Expire, Will Markets React? appeared first on CryptoPotato.
The notional value of today’s big batch of Bitcoin derivatives is a whopping $9.74 billion, making it the largest expiration event so far this year, according to Deribit.
Bitcoin Options Expiry
The put/call ratio for today’s huge tranche is 0.85, meaning there are slightly more long contracts being sold than shorts. There are more than a billion dollars in open interest (OI) at the $65,000 and $70,000 strike prices, with the latter being closer than current spot prices.
Bulls appear to be dominating the derivatives markets with almost a billion dollars in OI at much higher strike prices, including $75,000 and even $100,000.
OI refers to the number or value of contracts that are still open and have yet to be settled.
Bitcoin OI by expiry. Source: Deribit
Crypto derivatives tooling provider Greeks Live reported the total value of crypto options for today’s expiry event.
It also noted that the $70,000 strike price “is very hotly contested,” with the call currently holding the second-largest options contract. Deribit reports it as being slightly larger than the $65,000 strike price for calls.
In addition to the massive batch of Bitcoin contracts, around 1.58 million Ethereum options contracts will also expire on March 29. These have a notional value of around $5.67 billion and a put/call ratio of 0.63, which means more calls than puts expiring today.
Strike prices at $4,000 and $3,000 have a lot of OI, with the former being the greater notional value, which is around $700 million.
Crypto Market Impact
Spot markets are not usually impacted by derivatives expiration, but today’s event is a large one, so there could be some additional volatility.
Total capitalization is up 2% on the day, reaching $2.77 trillion during the Asian trading session on Friday morning.
Bitcoin has been hovering at resistance of just over $70,000 for the best part of the past 24 hours, where it remains.
Ethereum prices were trading around the $3,500 area, where they have been for the past 18 hours.
The post A Whopping $15B in Crypto Options Are About to Expire, Will Markets React? appeared first on CryptoPotato.
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