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Crypto DeFi

Bitcoin Options Worth $15B Set to Expire Friday on Deribit

Roughly $15 billion in bitcoin options are due to expire on Friday, with more than a third of the open interest on Deribit tied to the September 25 expiry. The put-to-call ratio stands at 0.70, indicating a bullish tilt, and the heaviest call strikes sit at $85,000, $90,000 and $100,000 as traders look for signals on whether the rally can continue.

Original source

AI take

The scale of this expiry matters less for the headline number than for where the open interest is clustered: the heaviest call strikes sit well above prevailing levels, which says positioning has been built around upside scenarios rather than hedging. A put-to-call ratio of 0.70 reinforces that tilt, though it also means the market is not braced for a sharp reversal. Whether the rally can continue is the open question, and the expiry itself may amplify moves as dealers unwind hedges around those strike levels.

Generated by AI for reference only.

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