Bitcoin
Bitcoin and Ethereum options expire today: here’s what to expect
Are you ready, crypto holders? Today is the day!
Nearly $2 billion worth of Bitcoin and Ethereum options are about to expire, and analysts are predicting a wild ride. This could mean short-term price swings for the top dogs of the crypto world. Will it be a stampede of bulls or an attack of bears?
Read on to find out what options expiration for Bitcoin and Ethereum means and how it could impact your portfolio.
Bitcoin Options Expiration: A Brief Overview
On June 21, 2024, Bitcoin options with a notional value of $1.26 billion will expire. This involves 19,668.60 contracts, boasting a put-to-call ratio of 0.45 and a maximum pain point of $66,500. Open interest for calls is 13,552.40, while puts have open interest of 6,116.20.
Tomorrow, June 22, 2024, Bitcoin options worth $93.77 million will expire. These 1,457.20 contracts have a put-to-call ratio of 1.29, with a maximum pain point of $65,500. Open interest for call options is 637.70 compared to 819.50 for puts.
Ethereum Options Expiration: A Brief Overview
Today, Ethereum options totaling $693.37 million in notional value will expire. This includes 197,068 contracts with a put-to-call ratio of 0.30 and a maximum pain point of $3,500.
On June 22, 2024, Ethereum options worth $100.67 million will expire. These 28,908.00 contracts have a put-to-call ratio of 0.31, with a maximum pain point of $3,525. Open interest for call options is 22,099, while put options have an open interest of 6,809.
Analyst Insights
Analysts have noticed an increase in forward options volume, especially in block calls. Despite the high realized volatility, implied volatility remained stable, suggesting that no major market movements are expected before the quarterly delivery.
Market price and trends
Bitcoin is currently priced at US$64,215, reflecting a change of -7.8% in 30 days and a change of -4.0% in 7 days. Throughout this week, BTC fluctuated between US$66,748 and US$64,215. Bitcoin’s 24-hour trading volume is $125.835 million, with a weekly peak of around $162.179 million.
Ethereum is currently priced at $3,485, showing a change of -7.2% in 30 days and a change of -1.2% in 7 days. This week, ETH fluctuated between $3,467 and $3,624. Ethereum’s 24-hour trading volume is $11.693 million, with a weekly peak of around $28.152 million.
Although option expiries can lead to temporary market disruptions, they usually result in eventual stabilization. As traders and investors navigate these expiries, the overall market is expected to adjust accordingly.
Read too: Crypto Market Crash: Whales Target These 3 Altcoins
Do option expiries make you nervous or do you see them as an opportunity? Join the conversation.