Crypto Options Expiry Looms With Minimal Market Impact Expected

Approximately $2 billion in cryptocurrency options are set to expire this Friday, February 21. The total includes around 16,500 Bitcoin options contracts valued at around $1.6 billion and 153,000 Ethereum contracts worth around $420 million.

The current batch of Bitcoin options exhibits a put/call ratio of 0.75, indicating a slight dominance of call (long) contracts over puts (shorts). The open interest remains highest at the $120,000 strike price, totalling $1.8 billion, with another $1.2 billion at the $110,000 strike.

Crypto derivatives specialist Greeks Live described market sentiment as 'cautiously bearish,' with traders facing challenges due to low volatility. Deribit confirmed this in its weekly Insights report, noting a decline in strong directional sentiment due to recent stagnant spot market trends.