Bitcoin Options Remain Expensive Despite Calm Market
Bitcoin options remain expensive despite the calm spot market. The 30-day realized volatility of Bitcoin has fallen to its lowest level since October 2025, at 21.80%. However, Volmex's 30-day implied volatility remains near 36%, indicating that options traders still expect wider price swings.
The gap between short-term implied and realized volatility is close to a one-year high. This means that option premiums are higher than usual, making it more difficult for traders to break even with their trades. To reach break-even levels, Bitcoin needs a larger price move.
One-week implied volatility stands near 29%, compared with realized volatility of about 16%. The derivatives market is pricing in more movement than the spot market has recently delivered, keeping Bitcoin options relatively expensive.