Volatility Alert as $8.7 Billion in BTC and ETH Options Expire Today

• Bitcoin has roughly $7.7 to $7.9 billion spread across more than 114,000 contracts.
• Combined, both expiries make up about 20% of all open interest in major crypto options.
• Deribit is the biggest crypto options exchange by far, with over 80% market share.

Around $8.7 billion in Bitcoin and Ethereum options expire on February 27, representing one of the biggest crypto derivatives settlements of the year. As such, traders are bracing for some short-term volatility in the wake of it.

Bitcoin makes up the lion’s share, roughly $7.7 to $7.9 billion spread across more than 114,000 contracts. Ethereum trails with about $960 to $975 million from nearly 480,000 contracts. Together, the expiries make up about 20% of all open interest in major crypto options, meaning the potential to move prices is real.

Traders are keeping an eye on the “max pain” price, which is the l…

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