May 18, 2022

Bulls favored ahead of record $6.1B Bitcoin options expiry on March 26


Over the past two months, the open interest on Bitcoin options increased by 60% to reach $13.5 billion as the BTC price rose to a new all-time high. The result of Bitcoin’s price appreciation and the rising options open interest resulted in a potentially historic $6.1 billion expiry set for March 26.

BTC options aggregate open interest. Source: Cryptorank

Most exchanges offer monthly exposures, although a few also hold weekly options for short-term contracts. Jan. 29, 2020, had the largest expiry on record as $3.5 billion worth of option contracts expired. This figure represented 36% of all open interest at that time.

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BTC options aggregate open interest by expiry. Source: Bybt

The above data shows that Bitcoin’s March 26 expiry holds 100,400 BTC. That unusual concentration translates to 45% of its contracts set to expire in eleven days.

It is worth noting that not every option will trade at expiry as some of those strikes nowTitle: Bulls favored ahead of record $6.1B Bitcoin options expiry on March 26
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Published Date: Tue, 16 Mar 2021 16:58:34 +0000