#Ethereum
Bitcoin and Ether options worth $2.7 billion set to expire
The upcoming expiration of 21,000 contracts is dwarfed by the much larger options expiry of $4.3 billion on May 31, according to Deribit.
Approximately $2.7 billion in Bitcoin and Ether options are scheduled to expire on May 24, providing valuable insight into cryptocurrency market sentiment.
According to a Greeks.live post on X, 21,000 Bitcoin options
They are about to expire with a put/call ratio of 0.88. This indicates a nearly equal balance between buyers and sellers, with a slight tilt toward calls.
Meanwhile, the maximum pain point, which is the price at which most option buyers would suffer losses, is $67,000, representing a face value of $1.4 billion.
While the upcoming expiration of 21,000 contracts is notable, it pales in comparison to the significantly larger event on May 31, when options worth an impressive $4.3 billion are expected to expire, according to Deribit.
Deribit data reveals that long positions dominate when it comes to open interest (OI), with a substantial $830 million worth tied to the $70,000 strike price.
Furthermore, the higher strike prices also feature significant open interest, notably $843 million at the $100,000 level, indicating a bullish tilt among traders. With $388 million in open interest, the $60,000 strike price stands out as the most notable for put contracts.
This substantial open interest indicates that many contracts remain unresolved, revealing that bulls are confident in much higher Bitcoin prices, as open interest represents the unresolved value of contracts waiting to be settled.
The options expiration event is not limited to Bitcoin,
