Major Expirations for Bitcoin and Ethereum Options as June Ends
Bitcoin Options Expiry
As June comes to a close, significant expirations in Bitcoin (BTC) and Ethereum (ETH) options are anticipated, which could impact market conditions. On June 28, BTC options valued at $6.6 billion will expire. According to Deribit data, the put/call ratio stands at 0.53, suggesting bullish sentiment. The total open interest is approximately 107,000 BTC, with 70,000 in calls and 37,000 in puts. Despite this optimistic sentiment, BTC’s price has been declining, falling 10% over the past month to a low of $60,500, nearing the max pain price of $58,000.
Bitcoin: Open Interest By Strike Price (Source: Deribit)
Ethereum Options Expiry
ETH options are also approaching expiration, with a notional value of $3.4 billion. The max pain price for ETH is $3,100, while the current price is $3,300 after a 13% decrease over 30 days. Total open interest for ETH options exceeds 1 million ETH, with calls dominating at roughly 648,000 ETH, as per Deribit data.
Ethereum: Open Interest By Strike Price (Source: Deribit)
The Importance of Max Pain Price
The max pain price, the level where the most options lose value, is crucial in these expirations. As the expiry date nears, market movements often gravitate towards these levels. Investors are closely watching to see if BTC and ETH prices will align with their respective max pain prices, which could indicate significant shifts in market sentiment and positioning.
The post Market eyes max pain prices as $6.6 billion BTC and $3.4 billion ETH options expiry nears appeared first on CryptoSlate.
