What to Expect Today as Bitcoin and Ethereum Options Reach Expiry

Key Takeaways
Today, on June 21st, 2024, Bitcoin and Ethereum options worth almost $2 billion are set to expire.
Bitcoin options have a put-to-call ratio of 0.45, while Ethereum options have a ratio of 0.30.
Despite the options expiry, analysts believe that the crypto market will stabilize as traders and investors adjust their positions.
It’s a big day for crypto holders! Nearly $2 billion worth of Bitcoin and Ethereum options are about to expire, and analysts are predicting some excitement. This could result in short-term price swings for the top cryptocurrencies. Will it be a bullish surge or a bearish raid? Keep reading to find out what the options expiry means for Bitcoin and Ethereum and how it could impact your portfolio.
A Brief Overview of Bitcoin Options Expiry
Today, on June 21st, 2024, Bitcoin options with a total value of $1.26 billion will expire. This involves 19,668.60 contracts, with a put-to-call ratio of 0.45 and a maximum pain point at $66,500. The open interest for call options is 13,552.40, while put options have an open interest of 6,116.20.
Tomorrow, on June 22nd, 2024, Bitcoin options worth $93.77 million are set to expire. These 1,457.20 contracts have a put-to-call ratio of 1.29, with a maximum pain point at $65,500. The open interest for call options is 637.70, compared to 819.50 for put options.
A Brief Overview of Ethereum Options Expiry
Today, Ethereum options worth $693.37 million in total value will expire. This includes 197,068 contracts with a put-to-call ratio of 0.30 and a maximum pain point at $3,500.
Tomorrow, on June 22nd, 2024, Ethereum options worth $100.67 million will expire. These 28,908.00 contracts have a put-to-call ratio of 0.31, with a maximum pain point at $3,525. The open interest for call options is 22,099, while put options have an open interest of 6,809.
Insights from Analysts
Analysts have observed an increase in forward options volume, particularly in block calls. Despite high realized volatility, the implied volatility has remained stable, indicating that no significant market movements are expected before the quarterly delivery.
Market Price and Trends
Bitcoin is currently priced at $64,215, showing a 30-day change of -7.8% and a 7-day change of -4.0%. Throughout this week, BTC has fluctuated between $66,748 and $64,215. The 24-hour trading volume of Bitcoin stands at $125.835 million, with a weekly peak of around $162.179 million.
Ethereum is currently priced at $3,485, reflecting a 30-day change of -7.2% and a 7-day change of -1.2%. This week, ETH has ranged between $3,467 and $3,624. The 24-hour trading volume of Ethereum is $11.693 million, with a weekly peak of approximately $28.152 million.
While options expirations can cause temporary disruptions in the market, they generally lead to eventual stabilization. As traders and investors navigate these expirations, the overall market is expected to adjust accordingly.
Also Read:
Crypto Market Crash: Whales Are Targeting These Three Altcoins
Do options expirations make you nervous, or do you see them as an opportunity? Join the conversation.
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Bitcoin
Ethereum
Price Analysis