Bitcoin Options Pricing Calmer Conditions According to Saxo Bank Analysis
Saxo Bank's analysis of options data from September 23 shows that IBIT's expected volatility is near the bottom of its 12-month range. According to Koen Hoorelbeke, Saxo investment and options strategist, the implied volatility of BlackRock's iShares Bitcoin Trust (IBIT) stood at 37.4% on Wednesday, compared to a realized volatility of 45.5% over the past 20 trading sessions through Tuesday.
Hoorelbeke noted that IBIT's implied volatility rank is 11.9, placing it near the bottom of its 12-month range. He stated that 'in our view the options market appears to be pricing calmer conditions than the recent past produced.'
The analysis identified resistance around $87,000, where Bitcoin's advance stalled on September 21, and support between $76,000 and $77,000.
At the time of writing, Bitcoin was trading at $84,751, up 1.6% in the last 24 hours according to CoinGecko.