CandleFocus Record $14B Bitcoin Options Expiry Looms as Market Looks Highly Levered-Up
2024-12-24
Author: Content Editor
A significant options expiry is set to occur on the crypto exchange Deribit, with 146,000 bitcoin options contracts and ETH options worth $3.84 billion set to expire. This represents the largest expiry event ever on Deribit, and may cause market volatility as positions are squared off or rolled over. The put-call open interest ratio for the expiry is 0.69, indicating that leverage is skewed to the upside. However, BTC's bullish momentum has stalled since the Fed decision, putting traders with leveraged bullish bets at risk of losses. The expiry has the potential to shape the narrative heading into the new year. Options pricing reveals a more bearish outlook for ETH compared to BTC, with decreased demand for bullish bets and a stronger bearish bias in ETH's put-call skew ratio. Overall, the end-of-year positioning reflects a moderately less bullish picture for both BTC and ETH.
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