{"id":35813,"date":"2025-09-19T06:09:32","date_gmt":"2025-09-19T06:09:32","guid":{"rendered":"https:\/\/financialrush.com\/?p=35813"},"modified":"2025-09-19T06:09:32","modified_gmt":"2025-09-19T06:09:32","slug":"will-todays-4-3b-crypto-options-expiry-impact-spot-markets","status":"publish","type":"post","link":"https:\/\/financialrush.com\/?p=35813","title":{"rendered":"Will Today\u2019s $4.3B Crypto Options Expiry Impact Spot Markets?"},"content":{"rendered":"

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Around 30,000 Bitcoin options contracts will expire on Friday, September 19, and they have a notional value of roughly $3.5 billion.<\/p>\n

This expiry event is pretty close to last week\u2019s<\/a>, so there is unlikely to be any impact on spot markets, which have moved higher this week.<\/p>\n

The US Federal Reserve\u2019s first rate reduction<\/a> of the year was largely priced in by markets, which have taken a minor dip this Friday morning.<\/p>\n

Bitcoin Options Expiry<\/h2>\n

This week\u2019s batch of Bitcoin options contracts has a put\/call ratio of 1.2, meaning that there are more short contracts expiring than longs, as bearish speculation increases.<\/p>\n

Open interest (OI), or the value or number of BTC options contracts yet to expire, is highest at $140,000, which has reached<\/a> $2.7 billion at this strike price on Deribit. There is also around $2.2 billion OI at $120,000, but $95,000 is a popular strike price for short sellers with $2 billion in OI.<\/p>\n

Additionally, total Bitcoin futures OI currently stands at $86 billion, which has climbed back toward all-time highs, according to CoinGlass.<\/p>\n

<\/a>
Bitcoin options OI by expiration. Source: Deribit<\/figcaption><\/figure>\n

\u201cRecent actual volatility has also been substantial, showing a marked increase compared to last month, yet actual trading volume has declined instead; volatility levels and trading volume have diverged,\u201d said<\/a> crypto derivatives provider Greeks Live earlier this week.<\/p>\n

In addition to today\u2019s batch of Bitcoin options, there are around 177,500 Ethereum contracts that are also expiring, with a notional value of $815 million, and a put\/call ratio of 1. This brings Friday\u2019s combined crypto options expiry notional value to around $4.3 billion.<\/p>\n

Crypto Market Outlook<\/h2>\n

Total crypto market capitalization has retreated slightly over the past few hours, but remains near peak levels at $4.2 trillion. Zooming out shows that overall digital asset markets have been trading sideways since mid-July.<\/p>\n

Bitcoin inched toward $118,000 in late trading on Thursday, took a wild swing down to $116,750 before recovering to reclaim $117,000 in Friday morning trading in Asia. The asset is around 5.6% away from its all-time high and is maintaining its gains with no major September slump yet.<\/p>\n

Ethereum has held steady around the $4,600 level for the past 24 hours and remains 7% away from its all-time high.<\/p>\n

The altcoins have had a solid week with Hyperlink (HYPE) and Binance Coin<\/a> (BNB) hitting all-time highs. Chainlink, Avalanche, and Sui are today\u2019s top performers while the rest of the high-cap alts remain flat.<\/p>\n

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<\/p><\/div>\n\n
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