Overview
- Roughly $17 billion in contracts are due, including about $14.4 billion in bitcoin options and $2.6 billion in ether options.
- Bitcoin trades near $113,000 versus a calculated max pain around $114,000, while ether hovers near $4,000 versus a $4,110 max pain.
- Out-of-the-money options account for 82.5% of open interest, with call strikes clustered at $120,000–$130,000 and puts at $100,000–$110,000.
- Put-call ratios of 0.76 for bitcoin and 0.70 for ether indicate positioning skewed toward calls over puts.
- Deribit’s share of global bitcoin options open interest has declined to about 44%, now roughly equal to IBIT’s, as traders watch Fed policy and big-tech earnings for potential catalysts.