Bitcoin Options Market Sees Bullish Bets Amid Expiration
- Deribit’s $95,000 bitcoin calls expiring Oct. 30 hold an open interest of 25,030.6 BTC.
- Bitcoin call options account for approximately 60.24% of total options interest, compared to puts at 39.76%.
- The max pain estimate for Deribit’s Oct. expiration is near $78,000, below the current market price.
- Bitcoin futures open interest stands at $51.7 billion, a decrease of about 1.59% over the past day.
- Significant positions are also seen in $90,000 and $100,000 call contracts on Deribit.
As October’s expiration approaches, traders have amassed substantial bullish exposure in bitcoin options despite theoretical settlement levels being lower than current market prices or strike levels attracting high interest. This setup indicates a potential tug-of-war between bullish positioning and actual market dynamics.
Deribit’s largest listed bitcoin option position reflects significant bullish sentiment with its $95,000 calls holding over $2 billion in notional exposure as traders anticipate higher prices despite max pain estimates suggesting otherwise.
