Bitcoin and ether (Eth) Options worth over $ 14.6 billion are set to expire Friday on dismissal in what is formed to be one of the most significant derivative events of 2025.
The outlet is strongly skewed against BTC set options, which emphasizes a continued demand for the protection of the disadvantage, while it is more balanced for Ether.
From the time of writing, 56,452 BTC call options and 48,961 Put option contracts for settlement had to a total of a nominal open interest rate of $ 11.62 billion, according to data source -derived measurements. Deribit is the world’s largest crypto option exchange that accounts for 80% of global activity. On derivative, an option contract represents a BTC or ETH.
A closer look at open interest reveals concentrated activity in set options with strike prices between $ 108,000 and $ 112,000. Conversely, the most popular call options are gathered for $ 120,000 and above.
In other words, almost the money sets BTC’s current market price of approximately $ 110,000 is in great demand, while calls with higher strike prices reflect hope of further upside.
In Ether’s case, a total of 393,534 calls for settlement are expected that exceeds Put Tally on 291.128 by a significant margin, both of a total of $ 3.03 billion in nominal open interest rate.
Significantly OI is concentrated in calls to strikes $ 3,800, $ 4,000 and $ 5,000, and puts options on strikes $ 4,000, $ 3,700 and $ 2,200.
“BTC Expiry points to sustained demand for downward protection, while ETH looks more neutral. Combined with Powell’s Jackson Hole signal, this outlet can help set the market tone for September,” said deribit on X.
The options are derived contracts that give the buyer the right to buy or sell the underlying asset at a predetermined price of or before a specified future date. A call opportunity gives the right to buy and represents a bullish effort on the market. Meanwhile, a Put -setting provides insurance against price pictures.
The election market has grown jumps and borders since 2020, with monthly and quarterly settlements that are given prominent role as major market moving events.
By 2021, some observers suggested that prices tend to weigh against ‘max pain’ levels – strike prices where options hold the biggest losses – in the days leading up to the outlet. However, the validity of this theory remains a matter of debate among dealers and analysts.
From writing, the maximum pain levels for Bitcoin and Ether are 116,000 and $ 3,800, respectively, which serve as focal points for believers in the maximum pain theory.
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