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$1.85 Billion in Bitcoin and Ethereum Options Expire Today Amid Mixed Market Sentiments

2 mins
Updated by Lynn Wang
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In Brief

  • Nearly $1.85 billion in crypto options are set to expire today, driving market attention.
  • These expiring BTC and ETH options have put-to-call ratios of 1.09 and 0.38, respectively.
  • Economic data and the governments' sell-offs also influence potential market volatility.
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Today, the crypto market anticipates the expiration of nearly $1.85 billion in Bitcoin (BTC) and Ethereum (ETH) options.

Market participants are closely monitoring these expirations, which could lead to increased volatility and price fluctuations.

Macroeconomic Factors and Options Expiry: How They Shape Crypto Prices

According to Deribit’s data, 23,832 Bitcoin contracts, worth approximately $1.37 billion, are set to expire today. This tranche is higher than last week’s figures, which were 18,339 contracts. These expiring contracts have a put-to-call ratio of 1.09, with a maximum pain point of $58,500.

Read more: An Introduction to Crypto Options Trading

Expiring Bitcoin Options.
Expiring Bitcoin Options. Source: Deribit

In the crypto options market, the maximum pain point represents the price level that inflicts the most financial discomfort on option holders. Meanwhile, the put-to-call ratio suggests a prevalence of purchase options (calls) over sales options (puts).

In addition to Bitcoin options, 156,792 Ethereum contracts will also expire today, holding a notional value of over $488.05 million. Ethereum’s put-to-call ratio is 0.38, with a maximum pain point of $3,100.

Expiring Ethereum Options.
Expiring Ethereum Options. Source: Deribit

This week, the crypto market has been influenced by broader economic factors. On July 11, the Bureau of Labor Statistics (BLS) released the US Consumer Price Index (CPI) data, showing a 3% year-over-year (YoY) inflation rate for June. This figure was lower than market expectations.

Bitcoin briefly reached $59,000 during recent economic updates, while Ethereum was trading at $3,105, showing a slight increase. This positive development occurred despite market pressure from significant Bitcoin sell-offs by the German and US governments. Adam, an analyst at the crypto options tool Greeks.live, provided insight into the current sentiment in the crypto options market.

“The overall [implied volatility] IV level has rebounded significantly. If you choose a higher IV, you can open a sell order. The large amount of funds delivered in the quarter will smash the IV back at any time,” he wrote.

Read more: 9 Best Crypto Options Trading Platforms

Historically, sharp price movements from options expiration tend to be temporary, with markets stabilizing soon after. However, traders should remain careful in analyzing technical indicators and market sentiment to navigate this volatile period effectively.

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Lynn Wang
Lynn Wang is a seasoned journalist at BeInCrypto, covering a wide range of topics, including tokenized real-world assets (RWA), tokenization, artificial intelligence (AI), regulatory enforcement, and investments in the crypto industry. Previously, she led a team of content creators and journalists for BeInCrypto Indonesia, focusing on the adoption of cryptocurrencies and blockchain technology in the region, as well as regulatory developments. Prior to that, at Value Magazine, she covered...
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