📉📈📉 Brace for Impact: Crypto Traders Eye $2.4 Billion Options Expiry 📉📈📉
This Friday marks the expiration of $2.4 billion worth of Bitcoin and Ethereum options, signaling potential turbulence in the crypto market. According to data from Greeks.live, the options market is showing an upward trend.
Notable block trades with bullish expiration dates in September and December, including a $65,000 BTC call option, have been detected by market intelligence sources. Friday appears to be shaping up positively for the Bitcoin and Ethereum options market, with two Bitcoin calls indicating bullish sentiment among traders.
Bitcoin experienced a rebound from Wednesday's low of $56,552 to Friday's high of $60,000, a roughly 7% increase attributed to lower-than-expected US Nonfarm Payrolls data.
The analysts at Greeks.live have uncovered some intriguing Bitcoin call options, such as two $65,000 calls that paid out 93 BTC, approximately $3.35 million each, with expiration dates in September and December.
Options traders are positioning themselves for potential price increases, with the expectation that the asset's price will exceed the predetermined levels by the expiration dates.
Noteworthy trades include a September call ratio spread approach, involving the purchase of 600 BTC and the sale of 1,200 BTC, with a net premium of 45 BTC. This strategy includes buying one $60,000 call and selling two $90,000 calls simultaneously.$BTC
