Mar 28, 2024

Leading crypto options exchange Deribit will settle bitcoin and ether's quarterly options contracts worth $9.5 billion and $5.7 billion, respectively.

Video transcript

The chart of the day is presented by, the leading crypto platform trusted by over 80 million users worldwide. Let's take a look at the chart of the day. Bitcoin and Ether could see upside volatility as $15 billion worth of options contracts expire. They bit the world's leading crypto options exchange will settle quarterly contracts. Bitcoin options account for 62% of the total notional open interest due for settlement with either options comprising the rest. The expiry is one of the largest in the exchange's history according to der data and will wipe out 40% and 43% of Bitcoin and Ether's total notional open interest across maturities. Derbi Chief Commercial Officer said that large amounts of options are set to expire in the money which could inject upward pressure into the market. Max pain points for Bitcoin and Ether's quarterly expiry are $50,000 and $2600 respectively. During the last bull, both cryptocurrencies consistently corrected lower in the direction of their max pain points only to resume the rally after the expiry. That's it for today's chart of the day. I'm Jen Sasi. We will see you next time to unpack more of the data behind top news stories.

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