TREE NEWS reports: 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.
Bitcoin Options Worth $15B Set to Expire Friday on Deribit
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.
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