$11 billion worth of $BTC options expire tomorrow, accounting for about a third of Deribit’s Bitcoin options open interest. The bullish bets are clustered at $90,000, $95,000, and $100,000; with the price at $79,900, they’ll most likely expire worthless. The fuse is below: around 70% of gamma is concentrated between $75,000 and $82,000, and below $80,000, puts outnumber calls by more than two to one. Sellers may wait until after the November 3 midterm elections to sell options again; no one will be selling volatility during those few days.