$4.3B Crypto Options Expire Today: Market Reaction Ahead

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It is the end of another week, which means another batch of Bitcoin and crypto options contracts is expiring, while spot markets remain sideways.

Around 39,000 Bitcoin options contracts will expire on Friday, Dec. 12, and they have a notional value of roughly $3.6 billion.

This expiry event is pretty much the same as last week’s, which had no impact on spot markets. The US Federal Reserve dropped rates by a quarter percent this week in a move that was largely priced in by markets, hence the lack of reaction.

Bitcoin Options Expiry
This week’s batch of Bitcoin options contracts has a put/call ratio of 1.1, meaning that the shorts slightly outnumber the longs. Max pain is around $90,000, according to Coinglass.

Open interest (OI), or the value or number of Bitcoin options contracts yet to expire, is highest at $100,000, which has $2.7 billion at this strike price on Deribit. There remains around $2 billion in OI at $80k and $85k targeted by short sellers.

Total BTC options OI across all exchanges is at $54.6 billion, according to Coinglass. Bitcoin positioning is tightly centered around the $90,000 level, reported Deribit.


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