3.7 Billion Worth of BTC Options Expire Today

According to cryptocurrency options exchange Deribit, $3.7 billion worth of Bitcoin options will expire at 17:00 UTC on January 26. The put/call ratio is 0.51 and the max pain (the price at which the most options buyers lose premium) is $41,000. At the same time, $2.06 billion worth of Ethereum options expire. The put/call ratio is 0.31 and the max pain is $2,300.

"Bitcoin futures open interest (OI) on the Chicago Mercantile Exchange (CME) has fallen by more than $1 billion since reaching a record high on January 10th (local time)," said Luuk Strijers, Chief Commercial Officer at Deribit. "The decline in CME futures open interest suggests that investors, especially those in the traditional financial sector, are adjusting their investment strategies. They see the recently introduced Bitcoin spot ETF as an easy and efficient way to gain exposure to cryptocurrencies. Compared to futures contracts, they see these products as having advantages in terms of ease of trading and cost."