Deribit Options Expiry Sees $27 Billion in Bitcoin and Ether Contracts Set for Year-End Reset
Deribit options expiring this Friday total approximately $27 billion, with $23.6 billion in Bitcoin and $3.8 billion in Ether contracts.
More than half of Deribit's total open interest is set to expire, showing a bullish tilt as call options outnumber puts by about 3-to-1.
The maximum pain price is implied near $96,000 for Bitcoin and around $3,100 for Ether, indicating where expiries might influence price action.
December put options at strikes between $70,000 and $85,000 are being rolled into January expiries, signaling hedging adjustments by market participants.
Open interest is heavily concentrated in call options with strikes from $100,000 to $116,000, while the $85,000 put remains the most popular downside bet.
Deribit expects this expiry to be more orderly than last year and notes that the holiday period may temper volatility.
Bitcoin's Deribit Volatility Index (DVOL) is around 45, down from 63 on November 21, indicating reduced panic and compressed expected volatility through expiry.
At the time of reporting, spot prices were approximately $89,702 for Bitcoin and $3,038 for Ether, reflecting current trading levels amid the rollover.
