The Bitcoin market will encounter one of the largest options contracts of the year on the last trading day of the week. According to data shared by Deribit CEO Luuk Strigers, contracts coveri
The Bitcoin market will encounter one of the largest options contracts of the year on the last trading day of the week. According to data shared by Deribit CEO Luuk Strigers, contracts covering approximately 184,000 BTC will expire on September 25th.
The total intangible value of these Bitcoin options is approximately $15.9 billion. This amount represents roughly 37% of the total open Bitcoin options positions on Deribit.
The data shows that positions are concentrated in favor of call options, with a put/call ratio of 0.69. In other words, a significant portion of investors took positions expecting higher Bitcoin prices when the contracts were created.
The maximum potential loss for the future is estimated at $75,000. However, it’s important to note that this maximum loss level doesn’t necessarily mean Bitcoin will fall to that price.
With approximately $2.1 billion worth of Ethereum options also expiring on the same day, the total contract size will approach $18 billion.
At the time of writing, Bitcoin is trading at $84,321, having fallen by 2.51% in the last 24 hours.
*This is not investment advice.
Continue Reading: Bitcoin Followers, Take Note of This Date: A Massive $15.9 Billion Deadline is Approaching
