$BTC

Deribit Data: Nearly $5 Billion BTC and ETH Options Expiring in Half an Hour

On August 8, the market will face nearly $5 billion in BTC and ETH options expiring at 16:00 Beijing time today.

According to Deribit's expiry data, the total open interest for Bitcoin (BTC) options currently stands at 34,977 contracts. The total open interest for Ethereum options is 223,592 contracts.

Among them, the open interest for Bitcoin call options is 14,237 contracts, while the open interest for put options is 20,740 contracts, resulting in a put/call ratio of 1.46. The corresponding notional value is nearly $4.087 billion, with the current maximum pain price for BTC at $116,000.

For Ethereum, the open interest for call options is 104,508 contracts, while the open interest for put options is 119,084 contracts, with a put/call ratio of 1.14, corresponding to a notional value of $876 million, and the current maximum pain price for ETH at $3,675.

In summary, based on the put/call ratio in the options market, current market participants generally have a short-term bearish expectation for both BTC and ETH options.

As the options expiry approaches, market participants (especially those who need to adjust positions to avoid adverse outcomes) may increase trading activity.

This may also exacerbate the volatility risk of the Vega or Gamma values, leading to larger price fluctuations in the underlying assets than usual. Market participants should pay attention to risk management and prepare hedging strategies!

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