Deribit Options Expiry Brings $6.9 Billion in Volatility

Crypto derivatives traders are bracing for significant volatility as roughly $6.09 billion in Bitcoin (BTC) options and $920 million in Ethereum (ETH) options expire today at 8:00 a.m. UTC on Deribit.

The expiry, one of the largest scheduled for this month, could inject short-term price movements into the market as positions are settled and traders adjust their portfolios.

A near-even split between bearish and bullish bets is reflected in the put-to-call ratio for the expiring Bitcoin options at 1.03, while Ethereum's ratio stands at 0.98, indicating a slightly more bullish tilt.

The max pain price, the level where sellers of options profit the most, is set at $69,000 for Bitcoin and $2,050 for Ethereum.