$BTC
BREAKING: $6 Billionin Bitcoin Options Will Be Expiring Tomorrow
Tomorrow morning, a large batch of Bitcoin options contracts will expire. The total value of these contracts is about $6.3 to $6.4 billion.
An option is a contract that lets someone bet on Bitcoin’s future price.
> A call option is a bet that Bitcoin’s price will go up.
> A put option is a bet that Bitcoin’s price will go down.
These contracts expire at 4:00 AM Eastern Time on Friday. After that time, they settle and no longer stay open.
Bitcoin recently jumped from around $60,000–$65,000 toward $80,000. Because of that rally, many put options (the bets that price would fall) are now losing bets. Those bearish positions are mostly underwater.
A lot of the remaining call options are clustered#SchwabPlansToAddSOLAVAXLINKTrading around $75,000 and $80,000. That is why traders watch those price levels
#btc70k
BREAKING: $6 Billionin Bitcoin Options Will Be Expiring Tomorrow
Tomorrow morning, a large batch of Bitcoin options contracts will expire. The total value of these contracts is about $6.3 to $6.4 billion.
An option is a contract that lets someone bet on Bitcoin’s future price.
> A call option is a bet that Bitcoin’s price will go up.
> A put option is a bet that Bitcoin’s price will go down.
These contracts expire at 4:00 AM Eastern Time on Friday. After that time, they settle and no longer stay open.
Bitcoin recently jumped from around $60,000–$65,000 toward $80,000. Because of that rally, many put options (the bets that price would fall) are now losing bets. Those bearish positions are mostly underwater.
A lot of the remaining call options are clustered#SchwabPlansToAddSOLAVAXLINKTrading around $75,000 and $80,000. That is why traders watch those price levels
#btc70k
