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Greeks.live: Call options with strike prices between $120,000 and $140,000 remain the most concentrated contracts in October positions.

Greeks.live: Call options with strike prices between $120,000 and $140,000 remain the most concentrated contracts in October positions.

金色财经金色财经2025/10/09 03:28
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Jinse Finance reported that Adam, a macro researcher at Greeks.live, published an October options market analysis on the X platform, stating that call options with strike prices between $120,000 and $140,000 remain the contracts with the highest concentration of open interest, with the $120,000 key level gathering the highest density of Bitcoin positions. Major participants are focusing on out-of-the-money call options and strike prices close to recent historical highs. Since September, block trading has been unusually active, mainly concentrated in monthly and weekly contracts. After entering October, out-of-the-money options expiring in late October have started to attract attention. In terms of market makers' positions, positions below $120,000 are relatively scarce, and the overall gamma level of market makers remains low, meaning that small price fluctuations have limited impact. However, if Bitcoin falls below $110,000, market makers will need to increase short positions to reduce risk exposure; conversely, if a new high is reached, they will need to buy Bitcoin to hedge risk. As previously mentioned, $110,000 and the historical high are two key levels to watch. I still believe that the market environment in October will remain favorable. Several experienced institutional traders have expressed optimistic expectations for the fourth quarter in discussions, and the overall institutional positions also show a bullish tendency for the October market.

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