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$22.95 Billion in BTC and ETH Options Set to Expire on September 26

Deribit’s largest-ever Q3 options expiry, with a notional value of $23 billion, could trigger significant volatility, particularly in Bitcoin and Ethereum markets.

BTC
ETH

Summary

Deribit is set to witness its largest-ever Q3 options expiry on Friday, September 26, with a notional value of $23 billion. The majority of positions are in Bitcoin put options between $95,000 and $110,000, while Ethereum open interest exceeds $4,000. This large expiry is expected to bring volatility to both Bitcoin and Ethereum markets, with the possibility of significant short squeezes or forced liquidations.

Terms & Concepts
  • Options Expiry: The date on which options contracts expire, after which they become void and the right to exercise no longer exists.
  • Put/Call Ratio: A metric comparing the trading volumes of put options to call options, often used to gauge market sentiment.
  • Max Pain: The strike price at which the largest number of options will expire worthless, causing the maximum loss for option holders.