Deribit Data: Nearly $5.1 Billion in BTC and ETH Options Expiring Today
On July 11, the market will face nearly $5.1 billion in BTC and ETH options expiring this Friday (16:00 Beijing Time).
According to current data from Deribit, the total open interest for BTC options this Friday is 36,975 contracts. Among them, the open interest for call options is 17,858 contracts, the open interest for put options is 19,117 contracts, and the put/call ratio is 1.07, corresponding to a nominal value of over $4.37 billion. The current maximum pain price for BTC is $108,000.
Meanwhile, the total open interest for Ethereum options is 241,430 contracts. Among them, the open interest for call options is 113,684 contracts, the open interest for put options is 127,746 contracts, and the put/call ratio is 1.12, corresponding to a nominal value of nearly $729 million. The current maximum pain price for ETH is $2,600.
In summary, the current trading of put options (bearish options) for BTC and ETH is significantly higher than that of call options (bullish options), indicating a short-term bearish expectation in the options market.
According to Coingecko market data, the current market price for BTC is $115,932, with a 24-hour increase of 6.2%; the market price for ETH is $2,948, with a 24-hour increase of 8.3%.
Overall, the divergence trend between the BTC and ETH options market and spot prices this Friday may reflect that investors are more inclined to sell options for risk hedging or an overall bearish expectation before this options expiration. This trend may also trigger a potential short-term significant correction in the market before today’s options expiration.