Friday's $6.4 billion Bitcoin options expiry — $80K becomes the key battleground between bulls and bears

Odaily News: Approximately 81,700 Bitcoin options contracts are set to expire on Deribit at 16:00 Beijing time this Friday, with a notional value of approximately $6.44 billion. Among them, there are about 44,600 call options and 37,100 put options, with a Put/Call ratio of 0.83. The most concentrated strike prices for calls are currently $75,000 and $80,000, corresponding to open interest notional values of approximately $236 million and $157 million, respectively. According to Deribit's Chief Risk Officer, Bitcoin's rise from around $62,000 to $80,000 over the past week has pushed a large number of call options into in-the-money territory, exposing market makers to higher hedging pressure. Options with strike prices within 5% of the current spot price account for over $500 million in notional value, and the approaching expiry may trigger more frequent Gamma hedging activity.