Bitcoin Leads Largest-Ever Crypto Options Expiration Day With Approximately $28 Billion Notional
BTC/USDT
$5,893,102,060.79
$67,284.00 / $65,766.10
Change: $1,517.90 (2.31%)
-0.0007%
Shorts pay
COINOTAG News notes that a macro expert from the crypto desk, @BTC__options, highlights today as the annual options expiration day—the largest cryptocurrency options expiry on record, with a total notional value near $28 billion. The event signals heightened liquidity and strategic hedging across the sector.
Bitcoin BTC exposure comprises 267,000 expiring options, a Put/Call ratio of 0.35, a maximum pain price around $95,000, and roughly $23.6 billion in notional value.
Ethereum ETH accounts for 1.28 million expiring options, a Put/Call ratio of 0.45, a maximum pain near $3,100, and about $3.71 billion in notional value.
Post-settlement, the March quarterly options emerge as the largest tranche, constituting over 30% of total exposure and driven by out-of-the-money call options. The Q4 landscape remains muted, reflecting cyclical dynamics and a cautious market sentiment for crypto assets.