Today, approximately 18,800 Bitcoin options contracts will expire, with a total notional value of around $1.1 billion. This event is not likely to impact the spot market significantly, as it is similar to last week’s expiration event. The put/call ratio of this week’s contracts is 0.91, indicating a balance between long and short contracts. The maximum pain point for this expiration is around $62,000, approximately $1,500 higher than current spot prices. The open interest, or value of contracts that haven’t expired yet, is high for the $70,000 and $80,000 strike prices. Despite the sluggish market, new trading opportunities are becoming available, making it perfect for establishing medium to long-term calls at low levels.
Source: events