$15. 6B 비트코인 Options Expiry Clears As BTC Holds Near $84K
One of the largest 비트코인 options expiries of the year has passed without blowing up the spot market.
Approximately $15. 6billion in BTC options reached settlement on September 25, clearing a huge concentration of derivatives positions while Bitcoinheld in the mid-$83, 000 range.
Ahead of settlement, the options book represented roughly 182, 000 BTC.
Calls substantially outnumbered puts, with about 106, 200 BTC of call open interest against roughly 75, 900 BTC of puts in the expiry.
Those positions settled through Deribit’s regular expiry process.
Large quarterly expiries matter because options dealers and traders often hedge their exposures in the spot and futures markets.
As expiry approaches, changes in price can force those hedges to be adjusted.
Once the contracts settle, some of those flows disappear.
That does not mean a $15. 6billion expiry translates into $15. 6billion of 비트코인 being bought or sold.
The figure represents the notional value of the options contracts.
Still, removing that much open interest can change short-term market positioning.
비트코인 traded around $83, 600 after pulling back from an intraday high near $87, 000 earlier in the week.
출처: Bitcoinist