Approximately $2.3 billion in cryptocurrency options contracts expire on March 13. With Bitcoin holding near $70,000 and a put/call ratio close to 1, the market impact is expected to be limited due to balanced positioning between bullish and bearish traders, according to data.
A batch of 27,000 Bitcoin options contracts, with a notional value of roughly $1.9 billion, expires on March 13. The event is considered smaller than usual and is unlikely to significantly affect spot markets.
The options batch has a put/call ratio of 0.97, indicating a relative balance between long and short positions. Max pain is around $69,000, close to current spot prices, meaning many contracts could be in the money on expiry.
Open interest remains highest at the $60,000 strike price on Deribit, with $1.7 billion in bearish bets. Total Bitcoin options open interest across all exchanges has climbed to $45.5 billion this month.
Greeks Live observed the market rebound, noting Bitcoin was firmly holding above $70,000. “Now poised to challenge $75,000,” the firm stated regarding the asset’s price trajectory.
Approximately 185,000 Ethereum contracts are also expiring, with a notional value of $382 million. This brings the total notional value of crypto options expiries to around $2.3 billion.
Spot markets ticked up on Friday, with total capitalization reaching $2.5 trillion. Bitcoin approached $72,000 but found resistance, while Ether gained 4% to trade just above $2,100.
The flat forward implied volatility curve implies no significant term structure premium. This suggests balanced risk pricing for longer-dated options amid stable crypto sentiment, noted Greeks Live.
