A move to $37 in IBIT would leave bullish traders positioned to capture about $300 million, implying roughly $65,400 for Bitcoin.
$1.7 billion in options tied to the iShares Bitcoin ETF are due to expire tomorrow, setting up a near-term test for traders positioned around BlackRock's spot Bitcoin fund. The source says bulls stand to profit $300 million if IBIT reaches $37, a level it links to about $65,400 for Bitcoin. Options expiries can sharpen short-term price sensitivity as traders hedge or unwind positions into settlement, especially when open interest is concentrated around specific strike prices.