Bitcoin options show put skew ahead of Fed meeting
- —The 25-delta put-over-call skew was 1.44 percentage points for the September 25 expiry
- —DVOL on Deribit was around 38.9% for short-term contracts on September 16
- —Calls made up 61% of open interest, puts 39%
- —In July 2026 the skew compressed to 4% as hedges unwound
Why it matters: The market remains positioned for gains but is paying for protection against a sharp drop, raising the risk of accelerated sell-offs around the Fed decision.
Source: Crypto Briefing