{"id":122048,"date":"2026-07-17T05:20:18","date_gmt":"2026-07-17T05:20:18","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=122048"},"modified":"2026-07-17T05:20:18","modified_gmt":"2026-07-17T05:20:18","slug":"will-crypto-markets-move-when-1-2b-bitcoin-options-expire-today","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=122048","title":{"rendered":"Will Crypto Markets Move When $1.2B Bitcoin Options Expire Today?"},"content":{"rendered":"
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Around 19,500 Bitcoin options contracts will expire on Friday, July 17, with a notional value of roughly $1.23 billion. This expiry is much smaller than usual events, so it is unlikely to have any impact on spot markets.<\/p>\n

Crypto markets have gained later in the week following cooler-than-expected US inflation data, but have lost those gains by Friday.<\/p>\n

Bitcoin Options Expiry<\/h2>\n

This week\u2019s batch of Bitcoin options contracts has a put\/call ratio of 0.87, meaning that sellers of long (call) contracts and short (put) contracts are almost evenly matched. Max pain is around $62,500, which is lower than current spot prices, so some will be out of the money on expiry.<\/p>\n

Open interest (OI), or the value or number of Bitcoin options contracts yet to expire, remains highest at the $70,000 strike price on Deribit, with $1.6 billion, but short sellers still have $1.1 billion in OI at $60,000. Total BTC options OI across all exchanges has ticked up a little to $30 billion, according to Coinglass.<\/p>\n

\u201cPuts continue to trade at a premium to calls across all major tenors, although the magnitude of that premium has become increasingly uniform,\u201d said<\/a> crypto derivatives provider Greeks Live this week.<\/p>\n

This suggests that overall, the market is less panicked about an immediate crash than before, though people still pay a bit more for \u201cdrop protection\u201d than for \u201crise bets\u201d \u2014 just not as extremely as they did recently.<\/p>\n

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\u201cThe proportion of large-scale bullish trades continued to increase this week, primarily consisting of short-term bull spreads.\u201d<\/p>\n<\/blockquote>\n

Meanwhile, Deribit said, \u201cThis floods the market with liquidity and volatility, creating prime conditions for trading short-dated options on Deribit.\u201d<\/p>\n

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At 08:00 UTC tomorrow, ~$1.45B in BTC and ETH options are set to expire on Deribit.$BTC<\/a> : ~$1.23B notional | P\/C: 0.86| Max Pain: $62.5K$ETH<\/a> : ~$218M notional | P\/C: 1.54| Max Pain: $1.75K<\/p>\n

This floods the market with liquidity and volatility, creating prime conditions for\u2026 pic.twitter.com\/OlYg6LQsls<\/a><\/p>\n

\u2014 Deribit (@DeribitOfficial) July 16, 2026<\/a><\/p>\n<\/blockquote>\n