Crypto traders and investors will witness approximately $3 billion worth of Bitcoin (BTC) and Ethereum (ETH) options expire today.<\/strong><\/p>\n Expiring options tend to cause notable price\u00a0volatility<\/a>, meaning crypto market participants should monitor today\u2019s developments closely and possibly adjust their trading strategies around 8:00 UTC.<\/p>\n Data on Deribit shows that 26,949 Bitcoin contracts will expire today. The expiring options have a notional value of approximately $2.6 billion.<\/p>\n The maximum pain point at which the asset will cause financial losses to the greatest number of holders is $91,000. At this point, most contracts will expire worthless.<\/p>\n Bitcoin\u2019s put-to-call ratio is 1.01. This suggests a bearish sentiment as investors make more sales (Put) than purchase (Call) orders.<\/p>\n In contrast, Ethereum\u2019s put-to-call ratio is 0.92, indicating a generally bullish market outlook for ETH. Based on Deribit data, 184,296 Ethereum contracts will expire today. These expiring contracts have a notional value of approximately $340.7 million and a maximum pain point of $1,800.<\/p>\n Ethereum has seen a modest increase\u00a0of 2.27% since Friday\u2019s session opened, to trade at\u00a0$1,848<\/a>\u00a0as of this writing.<\/p>\n Despite Bitcoin sales calls exceeding purchase calls, analysts at Greeks.live cite a predominantly bullish sentiment in the market. They also note that many traders expect a push toward $100,000, citing low volatility and market structure.<\/p>\n \u201cKey levels being watched include the $96,000 NPOC [Naked Point of Control] that was just hit and the $94,400 rolling VWAP [Volume-Weighted Average Price], though some express concerns about sell in May and go away seasonality,\u201d wrote<\/a> Greeks.live.<\/p>\n<\/blockquote>\n With low volatility, traders see opportunities for long positions. According to Greeks.live, market makers are selling calls at 30% implied volatility (IV) to collect gamma, while leverage remains low. This suggests a potential upside with traders anticipating more rate cuts<\/a>.<\/p>\n Collecting gamma means selling options to profit from stable prices, managing small price moves, and earning premiums in a low-volatility market.<\/p>\n With ETH underperforming<\/a> compared to BTC, some traders are shorting<\/a> it. Meanwhile, others focus on BTC\u2019s steady rise and consider July volatility positions for vega gains. This reflects a strategic split in market focus.<\/p>\n Vega gains happen when option prices rise due to increased market volatility, benefiting traders holding options with higher Vega sensitivity.<\/p>\n Meanwhile, analysts at Deribit agree that some traders are focusing on Bitcoin\u2019s steady rise. Against this backdrop, there is significant BTC stacking above $95,000.<\/p>\n \u201cMarket shows strong BTC call stacking above $95K, what impact will the expiry do?,\u201d Deribit analysts posed<\/a>.<\/p>\n<\/blockquote>\n As of this writing, Bitcoin was trading for $97,108, with gains of almost 3% over the last 24 hours.<\/p>\n Therefore, heavy Bitcoin call options stacking above $95,000 points to trader optimism for a price surge.<\/p>\n Notwithstanding, it is imperative to note that options expiring can trigger volatility, as seen with last week\u2019s \u00a0$8.05 billion options expiry<\/a>, which caused short-term price consolidation. Nevertheless, volatility around options expiry tends to ease down once the contracts are settled around 8:00 UTC on Deribit. <\/p>\n Disclaimer<\/p>\n In adherence to the Trust Project<\/a> guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our\u00a0Terms and Conditions<\/a>,\u00a0Privacy Policy<\/a>, and\u00a0Disclaimers<\/a>\u00a0have been updated.<\/p>\n<\/div><\/div>\n$2.95 Billion Bitcoin and Ethereum Options Expiring<\/h2>\n
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