Bitcoin and crypto markets have had a volatile week. The asset fell to $61,500 on March 20 before recovering slightly.
Today’s big options expiry event could induce more volatility as around 25,300 Bitcoin contracts will expire on March 22.
This week’s expiry event is slightly lower than last week’s, but a huge one worth almost $10 billion will occur at the end of the month.
Bitcoin Options Expiry
Today’s tranche of expiring Bitcoin derivatives has a notional value of $1.8 billion. Additionally, the put/call ratio for these BTC options is 0.57, which means almost twice as many calls (long contracts) are being sold as puts (short contracts).
There is almost $1 billion in open interest, or yet-to-be-settled contracts, at the $65,000 strike price, according to Deribit. Other high OI strike prices for calls include $60K, $70K, and $75K.
Crypto derivatives tooling provider Greeks Live said the market was “encouraged by the Fed’s unsurprising lack of interest rate adjustments,”
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