Bitcoin Options Expiry Stalls Rally Despite $9.6B Notional Value

A significant $9.6 billion Bitcoin options expiry occurred on July 31, with max pain concentrated at the $64,000 level.

Greeks.live reported that 149,000 Bitcoin options worth $9.6 billion expired with a put-call ratio of 0.28 and max-pain at $64,000.

Deribit's monthly options settle at 08:00 UTC on the final Friday of each month. Shortly after settlement, Bitcoin traded near $63,824.

The expiry represented about 30% of outstanding contracts, according to Greeks.live. Its low put-call ratio showed that call open interest greatly exceeded put open interest going into settlement.