Based on Coindesk, the crypto market is preparing for a major options expiry event on December 26, with $23.6 billion in bitcoin options and $3.8 billion in ether options set to expire on Deribit. The event, dubbed the 'Boxing Day' expiry, will see over 50% of Deribit's total open interest affected. Deribit's global head of retail sales and business development, Sidrah Fariq, noted a bullish positioning, with a max pain level near $96,000 for bitcoin and a put-call ratio of 0.38, indicating a strong bias toward call options. The max pain level is the price point where options buyers face the most losses, while sellers typically profit. Fariq also highlighted that volatility remains contained, with Deribit’s BTC DVOL at 45%, down from 63% in late November, suggesting reduced market panic.
Boxing Day Bitcoin and Ether Options Expiry to Hit $27 Billion
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Summary
The fear and greed index shows a bullish market ahead as the crypto sector braces for a $27 billion options expiry on December 26. Deribit reports $23.6 billion in bitcoin and $3.8 billion in ether options set to expire, with over half of its open interest at stake. Max pain for BTC is near $96,000, and the put-call ratio at 0.38 favors calls. Volatility is easing, with BTC DVOL at 45%. Traders are advised to keep an eye on altcoins to watch amid the expiry event.
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