$4 Billion Worth of Bitcoin Options Expiring Today

Bitcoin and Ethereum Options Expiration

Today, options contracts worth 4 billion dollars for Bitcoin and Ethereum are expiring. This special day, with approximately 247,000 contracts reaching their expiration, is drawing significant attention from cryptocurrency investors. Compared to last week’s expiration of 720,000 options contracts, this figure seems quite low.

Details of the Options Market

According to Deribit data, the nominal value of Bitcoin options expiring today has reached 3.4 billion dollars, while the total open interest is recorded at 36,906. Additionally, the put/call ratio (PCR) stands at 0.91. The maximum pain level for Bitcoin has been set at 91,000 dollars, which is just below the current BTC price of 92,099 dollars.

Ethereum Options and Market Trends

On the Ethereum side, the nominal value of today's expiration options is approximately 668.95 million dollars. The total number of open positions is recorded at 210,304. The put/call ratio for Ethereum is 0.78, indicating that investors are favoring more call options and exhibiting a bullish trend. The maximum pain level is determined to be at 3,050 dollars, below the current ETH price of 3,160 dollars.

The Importance of Maximum Pain Level

The maximum pain level is the price level at which options contracts expire and represents the financial losses for investors. The Bitcoin and Ethereum options expiring today are significantly less than last week. On November 28, over 15 billion dollars in options expired.

Market Trends

With a PCR ratio of 0.91, the Bitcoin options market indicates that investors are taking a cautious approach but are not entering an aggressive downward trend. On the other hand, Ethereum's PCR value of 0.78 suggests that investors are more optimistic about ETH.