Bitcoin options worth $3.7 billion approaching expiration – Deribit

Quick Take

Feb. 23, the last Friday of the month, marks the expiration of an impressive $3.7 billion in Bitcoin (BTC) options, a situation that could notably influence the Bitcoin market, according to Deribit data.

Deribit data shows that the options, totaling $3.7 billion for BTC, feature a significant open interest – a total of 71,340 contracts for both calls and puts combined. The put/call ratio for BTC stands at 0.76, reflecting 76 put options for every 100 call options. This ratio leans towards a bullish sentiment, a tendency reinforced by the ‘max pain point' at $47,000. Beyond this, a meaningful open interest in call options lies between the strike prices of $53,000 to $60,000.

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The current higher price leans towards bullish sentiment, a trend not wholly predicted by the options market setup. Should the price remain above $51,000, a decrease in the put/call ratio could occur, as traders may opt for more calls, anticipating further bullish trends.

Analyst

James Van Straten Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

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