According to Deribit data, over $2.5 billion in cryptocurrency options contracts will expire tomorrow (UTC 8:00). Among them, Bitcoin options account for $2.15 billion, with a put/call ratio of 1.42 and a maximum pain point at $82,000; Ethereum options account for $408 million, with a put/call ratio of 1.13 and a maximum pain point at $2,550. Bitcoin's open interest is mainly concentrated in the $80,000 to $90,000 range, with increased put activity indicating traders are taking a cautious stance on the recent market. Ethereum positions are concentrated in the mid-$2,000 range, with stronger bearish positions below the spot price area and active bullish interest in higher price areas. Analysts note that with increased protection demand and volatility repricing, this options expiration may bring a short-term reset of market maker hedging liquidity and potentially eliminate the "gravity effect" around key strike prices, making the price movement after options expiration different from the previous few days.
Over $2.5 Billion in Crypto Options Set to Expire on Deribit Tomorrow
TechFlowShare
Summary
Deribit on-chain data shows over $2.5 billion in crypto options market contracts set to expire tomorrow at UTC 8:00. Bitcoin options market dominates with $2.15 billion, put/call ratio at 1.42 and max pain at $82,000. Ethereum options total $408 million, with a put/call ratio of 1.13 and max pain at $2,550. Bitcoin open interest is clustered between $80,000 and $90,000, with rising put activity. Ethereum positions center around $2,000, showing bearish bias below spot and bullish interest above. Analysts warn of potential liquidity resets and volatility shifts post-expiration.
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