The world’s largest crypto options exchange Deribit will witness one of its heaviest options expirations this weekend.
$9.5 billion worth of Bitcoin options contracts will expire on the Deribit cryptocurrency derivative exchange this weekend. This will be one of the largest monthly options contract expirations in the exchange’s history.
A significant portion of the options contracts, $3.9 billion, are profitable at Bitcoin’s current price. The prevalence of profitable investors’ movements is expected to cause significant volatility in the market, while the dominance of short positions also drew attention.
The open position amount in Deribit’s Bitcoin options contracts has recently increased significantly. This was indicated to potentially bring more upward movement.
Luke Strijers, Deribit’s Chief Commercial Officer, stated that the exchange currently has a conceptual position of $1.2 billion in Bitcoin for contracts of $100,000 or more. He also emphasized that a significant portion of the options contracts have a “maximum pain” price of $50,000.
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