Bitcoin and Ethereum Options Worth $18 Billion Face Historic Expiry Date

The largest ever Bitcoin and Ethereum options are set to expire today, worth a combined $18 billion. This unprecedented event is taking place in the cryptocurrency markets amid extraordinary circumstances.

Deribit data reveals that 88,537 Bitcoin options contracts are expiring, quadrupling last week's figures. Meanwhile, 796,021 Ethereum contracts will also expire, which is 4.5 times more than the previous week.

The total value of Bitcoin options has hit a record $14.38 billion, while Ethereum options stand at $3.7 billion. This soaring figure highlights traders' high-profit expectations and escalating demand for hedge strategies.

David Lawant, Research Head at FalconX, noted that the put/call ratio for December 27 options open interest surged from 0.35 in October to over 0.70, driven by players aiming to safeguard their 2024 performance metrics.