Overview
- Global bitcoin options open interest has reached an all-time high near $63 billion, with Deribit around $50 billion and 453,820 active BTC contracts.
- Deribit shows more than 19,000 put contracts at the $100,000 strike, exceeding $2 billion notional, signaling robust downside hedging.
- Bullish call exposure exceeds $2 billion at each of the $120,000, $130,000, and $140,000 strikes, highlighting sizable upside bets.
- Roughly $5.1 billion in options are set to expire today on Deribit, with a put/call ratio near 1.03 and a max pain level around $114,000.
- A larger expiry event is slated for next week, with about $31 billion in bitcoin options set to roll off across venues, including sizable tranches on Deribit and CME.