Deribit to have over $14 billion worth of Bitcoin options contracts expire this Friday
Deribit Exchange will have a total of 141,271 Bitcoin options contracts expiring this Friday, worth over $14 billion, accounting for over 40% of the total open contracts. Of these, 81,994 are call options, and the rest are put options. The current ratio of put options to call options for Bitcoin has risen to 0.72, partly due to the promotion of the "cash-secured put options" strategy.
Lin Chen, Head of Deribit's Asian business development, stated that nearly 20% of the expiring call options are in-the-money options, indicating a strong performance by the call option buyers this period. The biggest pain point for this expiry is $102,000. The latest market fund flow is neutral-biased, with traders selling straddle options and selling call options with a strike price of around $105,000 expiring on June 27, as well as shorting put options with a strike price of $100,000. It is expected that price volatility will tighten leading up to the expiry, with implied volatility still at high levels.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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