{"id":19498,"date":"2024-06-07T15:34:09","date_gmt":"2024-06-07T15:34:09","guid":{"rendered":"https:\/\/buycrypt.com\/blog\/?p=19498"},"modified":"2026-07-14T15:52:00","modified_gmt":"2026-07-14T15:52:00","slug":"will-markets-move-with-2-2b-in-crypto-options-expiring","status":"publish","type":"post","link":"https:\/\/buycrypt.com\/blog\/en\/will-markets-move-with-2-2b-in-crypto-options-expiring\/","title":{"rendered":"Will Markets Move With $2.2B in Crypto Options Expiring?"},"content":{"rendered":"

Crypto options expiration day has come around again, and this Friday, more than $2 billion worth of contracts will expire.<\/strong><\/em><\/p>\n

Around $2.25 billion in notional value cryptocurrency options contracts will expire on June 7.\u00a0Roughly 18,000 Bitcoin options contracts are among them, and these have a notional value of $1.25 billion.<\/p>\n

Today\u2019s crypto options expiry event is a lot smaller than last week\u2019s end-of-month contract expiry so impact on spot markets is likely to be minimal.<\/p>\n

Bitcoin Options Expiry<\/h2>\n

Today\u2019s batch of Bitcoin contracts have a put\/call ratio of 0.67, with around a third more long contracts expiring than shorts.\u00a0Moreover, the max pain point, or the price at which most losses will be made, is $70,000. This is currently slightly lower than spot prices, which are just over $71,000 at the time of writing.<\/p>\n

According to Deribit, there is almost a billion dollars in open interest (OI) at the $75,000 strike price. OI refers to the number or value of open contracts that have yet to be settled.\u00a0Bullish derivatives traders are also aiming at $80,000 and $100,000 strike prices, with OI at $890 million and $969 million, respectively.<\/p>\n

With the Bank of Canada and the European Central Bank initiating interest rate cuts this week and the market performing better driven by both BTC and ETH ETFs, there is a \u201cmore optimistic market atmosphere as macro and news diverge significantly,\u201d commented crypto derivatives tooling provider Greeks Live.<\/p>\n

It added that Bitcoin\u2019s major term implied volatility is around 50%, and Ethereum is around 55%, \u201cboth of which have fallen to a reasonable level.\u201d\u00a0IV is a measure of future expected volatility derived from expiring contracts.<\/p>\n

Ethereum Options Expiry<\/h2>\n

In addition to today\u2019s expiring BTC contracts, there are 260,000 Ethereum options expiring with a notional value of $1 billion.\u00a0These have a put\/call ratio of 0.64 and a max pain point of $3,650, slightly lower than the current spot price of $3,820.<\/p>\n

Greeks Live observed that this month\u2019s Bitcoin market volatility will be strongly correlated with the macro news of the Fed\u2019s interest rate decision while Ethereum is driven by news of the ETF approvals.<\/p>\n

Crypto market capitalization was flat on the day at $2.78 trillion at the time of writing, but it has gained 4% over the past seven days. There has been very little movement for the majority of digital assets over the past 24 hours.<\/p>\n

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