Bitcoin: Will 21 October's Options Expiry be a Non-Event?
The crypto market has been devoid of volatility lately. Over the past fortnight, The price of Bitcoin has mostly been hovering around the $19k mark. After noting a mere 0.4% gain on the daily, the largest crypto was trading at $19212.9 at press time. Bitcoin’s upcoming options expiry In a day’s time, Bitcoin worth approximately $538 million is set to expire. At the moment, most traders are bearish, for the puts overshadow the calls. The call OI on Thursday for October 21’s expiry stood at 12,272.4 BTC at press time. The put OI, on the other hand, stood at 15,728.8 BTC. Resultantly, the call/put ratio stood under 1, at 0.78. Source: Coinglass As illustrated below, most bearish bets have been placed at the strike price of 19k and lower, while the call bets have been placed towards the upside. For context, at $19k, the call OI stood at merely 678.49 BTC, while the put OI stood at 2.11k BTC. Conversely, at $19.5k, the call OI stood at an elevated 1.49k BTC wh...