Deribit Data: Nearly $14.8 Billion in BTC and ETH Options Expiring This Friday
On August 25, the market will see a total nominal value of nearly $14.8 billion in BTC and ETH options expiring this Friday (Saturday at 16:00 Beijing time).
According to the latest data from Deribit, the total number of open contracts for BTC options expiring this Friday is 104,757, and for ETH options, it is 677,323.
Among them, the open contract volume for BTC call options is 55,897, for put options it is 48,860, and the put/call ratio is 0.87. The corresponding nominal value of the contracts is nearly $11.65 billion, with the current maximum pain price for BTC at $116,000;
For Ethereum, the open contract volume for call options is 388,984, for put options it is 288,343, and the put/call ratio is 0.74, corresponding to a nominal value of $3.119 billion, with the current maximum pain price for ETH at $3,800.
In summary, from the perspective of the put/call ratio in the options market, current market participants generally have a bullish expectation for the BTC and ETH options expiring this Friday.
Additionally, the maximum concentration of call strike prices for BTC is centered around $12,000. If during this period, the spot price of the corresponding tokens approaches these areas, there may be a potential risk of increased volatility.
At the same time, the maximum concentration of call strike prices for ETH is centered around three key levels: $3,800, $4,000, and $5,000, indicating that the potential volatility risk for Ethereum may be greater.
According to Deribit's official views on X, the expiration of Bitcoin options this Friday shows that the demand for downside protection still persists, while the positioning for Ethereum is relatively neutral. In addition, Powell's remarks at the Jackson Hole meeting, combined with this options expiration, may have a significant impact on market trends in September.
Investors can refer to the above data and views, and combine them with relevant technical indicators in the spot market to assess whether their investment strategies need adjustment.
