Approximately 23,400 Bitcoin options contracts will expire on Friday, Dec. 6, in the first expiry event of December.<\/p>\n
They have a notional value of $2.3 billion, which is about a quarter of last month\u2019s massive options expiry event<\/a>. The end of December\u2019s year-end event is also set to be a huge one.<\/p>\n This week\u2019s batch of Bitcoin options contracts has a max pain point of $97,000 and put\/call ratio of 1.1, meaning that long (call) contract and short (put) contract sellers are evenly matched.<\/p>\n Open interest, or the value or number of options contracts yet to expire, is highest at the $100,000 strike price, with $2 billion in OI, but the $120,000 strike price is not far behind, according<\/a> to Deribit.<\/p>\n \u201cNearly two weeks of options market data has been showing that market makers are more cautious, the impact of 100,000 plus today\u2019s retracement so that the short-term IV (implied volatility) increased significantly, options are very suitable for the short-term game at this point in time now,\u201d observed crypto derivatives provider Greeks Live.<\/p>\n 6 Dec Options Delivery Data \u2014 Greeks.live (@GreeksLive) December 6, 2024<\/a><\/p>\n\n \u201cFrom a price action standpoint, the rally could be sustained if traders take profit from their altcoins and rotate back into BTC and ETH,\u201d reported<\/a> Deribit earlier this week before BTC topped $100,000.<\/p>\n \u201cWith ETH within 1% of its five-month high, that would have the potential to reignite the momentum,\u201d it added.<\/p>\n In addition to today\u2019s Bitcoin options, around 147,000 Ethereum contracts are expiring today. These have a notional value of $569 million, a max pain of $3,500, and a put\/call ratio of 0.62, meaning there are almost twice as many call contracts expiring than puts.<\/p>\n This brings Friday\u2019s combined crypto options expiry notional value to around $2.8 billion.<\/p>\n Nevertheless, crypto markets took a sharp dip<\/a> in late trading on Dec. 5, with total capitalization shedding almost $200 billion in a fall from its all-time high of $3.88 trillion.<\/p>\n The move was driven by over-leveraged Bitcoin markets, causing the asset to dump below $100,000 in a flash crash below $93,000 on Dec. 5. Bitcoin hit an all-time high just below $104,000<\/a> yesterday.<\/p>\n However, the asset has since recovered to top $98,000 during the Friday morning Asian trading session.<\/p>\n Crypto options expiry events are unlikely to impact spot markets that much, though leverage flush-outs certainly do, as evidenced by the big correction.<\/p>\n The post Will $2.3B Bitcoin Options Expiry Accelerate The Correction?\u00a0<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Approximately 23,400 Bitcoin options contracts will expire on Friday, Dec. 6, in the first expiry event of December. They have a notional value of $2.3 billion, which is about a quarter of last month\u2019s massive options expiry event. The end of December\u2019s year-end event is also set to be a huge one. Bitcoin Options Expiry […]<\/p>\n","protected":false},"author":0,"featured_media":26242,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-26241","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\/26241"}],"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=26241"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/26241\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/26242"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26241"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26241"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Bitcoin Options Expiry<\/h2>\n
\n23,000 BTC options expired with a Put Call Ratio of 1.11, a maxpain point of $97,000 and a notional value of $2.3 billion.
\n147,000 ETH options expired with a Put Call Ratio of 0.62, a maxpain of $3,500 and a notional value of $570 million.
\nBitcoin\u2026 pic.twitter.com\/APzvJ1ohe3<\/a><\/p>\nCrypto Market Outlook<\/h2>\n