Bitcoin Options Expiry Reset: $16 Billion at Stake on September 25

Bitcoin's $16 billion options expiry on September 25 is set to reset the market after one of the quarter's largest derivatives expiries.

Ahead of this event, nearly $9.6 billion in calls and around $6.4 billion in puts are open interest, with significant call positioning concentrated at the $90,000 and $100,000 strikes.

This might seem bullish, but options data needs to be interpreted carefully, as a call option does not necessarily represent a directional bet that Bitcoin will rise. Options are also used in spreads, hedges, and market-making strategies.