Bitcoin Magazine Bitcoin Traders Brace for $15B Options Expiry as Bulls Eye $100,000

Bitcoin bulls are waiting ahead of a huge batch of Bitcoin options headed toward expiry.

Roughly $15 billion in options contracts are set to expire on Friday in the market’s quarterly settlement.

The September 25 contracts account for more than a third of all bitcoin options open interest on crypto derivatives platform Deribit.

A call option gives the trader the right, but not the obligation, to buy the underlying asset at a set price on a future date. A put option gives the right to sell.

And traders appear to be leaning bullish heading into Friday.

The put-to-call ratio, a closely watched gauge comparing bets to sell against bets to buy, sits at 0.70. That means more traders are positioned for prices to rise.

The biggest piles of call options are stacked at strike prices of $85,000, $90,000, and $100,000.