Bitcoin and Ethereum Options Expiration Date Looms: $16.6 Billion at Stake

Coinbase Markets has released data on open positions in Bitcoin and Ethereum options markets ahead of the third-quarter expiration date. Approximately $16.6 billion is at risk, with the majority held in Bitcoin options.

The put/call ratio in both cryptocurrencies shows a significant weighting of call options over put options, indicating investors' expectations that prices could rise to higher levels. In Bitcoin, this means around 186,000 open contracts are worth $14.73 billion, with the 'maximum pain' price calculated at $72,000.

The Ethereum options market also shows a strong concentration of call options, particularly at a strike price of $3,000, where approximately 43,000 contracts are held. This suggests investors believe prices will increase ahead of the expiration date on September 25, but volatility may increase around key strike prices.