Approximately 28,000 Bitcoin options contracts are expiring on Friday, Nov. 1, with a notional value of around $2 billion.<\/p>\n
Today\u2019s options expiry is much smaller than last week\u2019s month-end event<\/a>, which saw more than double the value of BTC options expiring. Therefore, its impact on spot markets is likely to be muted.<\/p>\n This week\u2019s tranch of Bitcoin options contracts, the first in November, has a put\/call ratio of 0.92. This means that long (calls) and short (puts) contract expiries are more evenly distributed. The max pain point of today\u2019s batch is $69,000, which is pretty close to current spot prices.<\/p>\n Additionally, open interest (OI), or the value or number of open options contracts yet to expire, has surged to $1.3 billion at the strike price of $80,000, according<\/a> to Deribit.<\/p>\n This week, the head of derivatives at Arbelos Markets, Joshua Lim, observed<\/a> that CME Bitcoin options experienced some of the largest volume days ever ahead of the US election.\u00a0He said there were large contract buys for the $85,000 strike price, which is \u201cvery bullish positioning into the election,\u201d before adding that it was \u201cgreat to see institutions sizing up like this on CME.\u201d<\/p>\n \u201cPerhaps a good sign that there is and will be growing liquidity in the crypto derivatives markets as the asset class matures.\u201d<\/p>\n 1 Nov Options Data \u2014 Greeks.live (@GreeksLive) November 1, 2024<\/a><\/p>\n\n In addition to today\u2019s Bitcoin options, there are around 137,000 Ethereum options contracts ready to expire with a put\/call ratio of 0.68, a max pain point of $2,550, and a notional value of $350 million. This brings Friday\u2019s combined crypto options expiry notional value to around $2.3 billion.<\/p>\n Around $100 billion has been dumped from total crypto market capitalization over the last 24 hours, dropping it to $2.43 trillion in a 5.5% slump.<\/p>\n Bitcoin<\/a> flirted with its all-time high on Oct. 30 but failed to breach it and move into new price discovery. It has since corrected by 4% briefly slipping below $69,000 during the Friday morning Asian trading session.<\/p>\n Ethereum topped out at $2,700 but could not find any more momentum and has since retreated back to $2,500.<\/p>\n Moreover, most of the altcoins have remained lethargic<\/a> all week, failing to follow Bitcoin\u2019s big move, and most of them are deep in the red this Friday morning.<\/p>\n The post Will Crypto Markets Recover When $2B Bitcoin Options Expire Today?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Approximately 28,000 Bitcoin options contracts are expiring on Friday, Nov. 1, with a notional value of around $2 billion. Today\u2019s options expiry is much smaller than last week\u2019s month-end event, which saw more than double the value of BTC options expiring. Therefore, its impact on spot markets is likely to be muted. Bitcoin Options Expiry […]<\/p>\n","protected":false},"author":0,"featured_media":17099,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-17098","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17098"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17098"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17098\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/17099"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Bitcoin Options Expiry<\/h2>\n
\n28,000 BTC options expired with a Put Call Ratio of 0.92, a Maxpain point of $69,000 and a notional value of $1.97 billion.
\n137,000 ETH options expired with a Put Call Ratio of 0.69, a Maxpain point of $2,550 and a notional value of $350 million.
\nBitcoin hit\u2026 pic.twitter.com\/skJ4ofhpOk<\/a><\/p>\nCrypto Market Outlook<\/h2>\n