Overview
- Roughly 147,000 BTC options worth about $13.42 billion and around 574,000 ETH options worth $1.73 billion settled on Nov. 28, alongside approximately $15 million in XRP contracts.
- Open interest was concentrated near key strikes into expiry, with Bitcoin around the $100,000 max‑pain level and Ethereum near $3,400.
- Options boards were call‑dominant heading into settlement (BTC put‑call about 0.56; ETH about 0.48), while short‑term flows turned defensive with a 24‑hour put/call ratio near 1.12.
- Deribit reported roughly $43 billion in options open interest and record Bitcoin‑denominated activity, even as USD‑denominated open interest remained below late‑October peaks.
- After a recent leverage washout, analysts characterize the expiry as a reset that reduces immediate leverage while traders watch for capital redeployment and reactions at resistance to set the next move.