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 bull stampede or a bear raid?
Read on to find out what the options expiry means for Bitcoin and Ethereum, and how it could impact your portfolio.
Bitcoin Options Expiry: A Short Overview
On June 21st, 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 call options stands at 13,552.40, while put options have an open interest of 6,116.20.
Tomorrow, June 22nd, 2024, Bitcoin options worth $93.77 million are set to expire. These 1,457.20 contracts have a put-to-call ratio of 1.29, with a maximum pain point of $65,500. The open interest for call options is 637.70, compared to 819.50 for put options.
Ethereum Options Expiry: A Short 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 22nd, 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. The open interest for call options is 22,099, while put options have an open interest of 6,809.
Analyst Insights
Analysts have noted an increase in forward options volume, especially in block calls. Despite high realized volatility, the implied volatility has remained stable, suggesting that no major market movements are expected before the quarterly delivery.
Market Price and Trends
Bitcoin is currently priced at $64,215, reflecting a 30-day change of -7.8% and a 7-day change of -4.0%. Throughout this week, BTC has fluctuated between $66,748 and $64,215. The 24-hour trading volume of Bitcoin stands at $125.835 million, with a weekly peak around $162.179 million.
Ethereum is currently priced at $3,485, showing a 30-day change of -7.2% and a 7-day change of -1.2%. This week, ETH has ranged between $3,467 and $3,624. The 24-hour trading volume of Ethereum is $11.693 million, with a weekly peak around $28.152 million.
While options expirations can lead to temporary market disruptions, they generally result in eventual stabilization. As traders and investors navigate these expirations, the overall market is expected to adjust accordingly.
Also Read: Crypto Market Crash: Whales Are Targeting These Three Altcoins
Do options expirations make you nervous, or do you see them as an opportunity? Join the conversation.
Read More: Bitcoin and Ethereum Options Expiry Today: Here’s What to Expect
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