Markets
Bitcoin and Ethereum Options Expire Today: Here’s What to Expect
Are you ready, cryptocurrency holders? Today is the day!
Nearly $2 billion in options on Bitcoin and Ethereum are about to expire, and analysts are predicting a wild ride. This could mean short-term price swings for the top dogs of the cryptocurrency world. Will it be a bull run or a bear raid?
Read on to find out what options expiration means for Bitcoin and Ethereum and how it could impact your portfolio.
Bitcoin Options Expiration: A Brief Overview
On June 21, 2024, Bitcoin options with a notional value of $1.26 billion will expire. These are 19,668.60 contracts, with a put-to-call ratio of 0.45 and a maximum critical point of $66,500. The open interest of the call options is equal to 13,552.40, while that of the put options is equal to 6,116.20.
Tomorrow, June 22, 2024, $93.77 million worth of Bitcoin options will expire. These 1,457.20 contracts have a put-to-call ratio of 1.29, with a high critical point of $65,500. The open interest of call options is 637.70, versus 819.50 of put options.
Ethereum Options Expiration: A Brief Overview
Today, Ethereum options with a total notional value of $693.37 million will expire. This includes 197,068 contracts with a put-to-call ratio of 0.30 and a high critical point of $3,500.
Ethereum options worth $100.67 million will expire on June 22, 2024. These 28,908.00 contracts have a put-to-call ratio of 0.31, with a high critical point of $3,525. The open interest of the call options is 22,099, while the put options have an open interest of 6,809.
Analyst Insights
Analysts have noticed an increase in forward options volume, especially in block calls. Despite the high realized volatility, implied volatility has remained stable, suggesting that no major market movements are expected ahead of the quarterly delivery.
Market price and trends
Bitcoin is currently priced at $64,215, reflecting a 30-day change of -7.8% and a 7-day change of -4.0%. Over the course of this week, BTC has fluctuated between $66,748 and $64,215. Bitcoin’s 24-hour trading volume stands at $125.835 million, with a weekly high of around $162.179 million.
Ethereum is currently priced at $3,485, with a 30-day change of -7.2% and a 7-day change of -1.2%. This week, ETH has fluctuated between $3,467 and $3,624. Ethereum’s 24-hour trading volume is $11.693 million, with a weekly high of around $28.152 million.
While options expiration can lead to temporary market disruptions, they typically result in stabilization. As traders and investors face these deadlines, the overall market is expected to adjust accordingly.
Read also: Cryptocurrency Market Collapse: Whales Are Targeting These Three Altcoins
Do options expiration make you nervous or do you see them as an opportunity? Join the conversation.