According to Deribit data, $3.6 billion worth of bitcoin and ethereum options contracts will expire on Friday, of which about 85,000 bitcoin options contracts worth $2.3 billion and about 700,000 ethereum options worth $1.3 billion contract.
With a put ratio of 0.38, Deribit chief commercial officer Luuk Strijers said there could be more than two-and-a-half times more outstanding calls than puts. The amount of options expiring is sizable, but that doesn’t mean the market has reason to panic.
Implied volumes are still at their lowest levels, with Bitcoin and Ethereum at 50 DVOL, seeing a similar minimum IV situation in January of this year, followed by a massive spike.