Crypto Options Expiry Set for Friday: $2B in Contracts Up for Grabs

Approximately $2 billion in cryptocurrency options contracts will expire on Friday, February 21. The total includes around 16,500 Bitcoin options contracts valued at around $1.6 billion and approximately 153,000 Ethereum contracts worth about $420 million.

The put/call ratio for Bitcoin is 0.75, indicating a slight dominance of call (long) contracts over puts (shorts). Deribit reports that the open interest remains highest at the $120,000 strike price, totaling around $1.8 billion.

Derivatives specialist Greeks Live described market sentiment as 'cautiously bearish,' with traders facing challenges due to low volatility. They noted that options for next week are priced at 40% volatility, suggesting potential market weakness.