18,029 Bitcoin options expire on Deribit Friday: max pain sits at $83,000
- —18,029 contracts open: 10,410 puts versus 7,619 calls, about $1.45 billion notional
- —Max pain at $83,000 against a spot price of $80,771, a gap of $2,229
- —Put-call ratio of 1.37 versus 0.52 for the October 30 monthly expiry
- —Strikes at $78,000 and $80,000 hold 4,888 puts, 27% of the expiry
Why it matters: A break below $80,000 would force option writers to widen hedges, potentially amplifying downside; the bigger turning point is more likely at the October 30 expiry.
Source: CryptoTicker