IBIT Options Priced for Calmer Bitcoin Market Conditions

Options traders on BlackRock's iShares Bitcoin Trust (IBIT) are pricing smaller price swings following Bitcoin's recent rebound, according to Saxo Bank.

The implied volatility of IBIT stood at 37.4%, compared with realized volatility of 45.5% over the last 20 trading sessions through Tuesday, said investment and options strategist Koen Hoorelbeke.

Hoorelbeke's analysis put IBIT's implied volatility rank at 11.9, placing it near the bottom of its 12-month range, he wrote.

'In our view the options market appears to be pricing calmer conditions than the recent past produced,' Hoorelbeke said.

He identified resistance around $87,000, where Bitcoin's advance stalled on Sept. 21, and support between $76,000 and $77,000.