Bitcoin will see $6.4 billion in options expire this Friday, with $80,000 emerging as a key battleground for bulls and bears.
2026.08.26 16:13:04
Approximately 81,700 Bitcoin options will expire on Deribit at 16:00 Beijing time this Friday, with a notional value of around $6.44 billion, which could further amplify market volatility. Of these, about 44,600 are call options and 37,100 are put options, with a put/call ratio of 0.83, indicating an overall bullish bias. The most concentrated strike prices for call options are $75,000 and $80,000, corresponding to open interest notional values of roughly $236 million and $157 million respectively. Deribit’s Chief Risk Officer noted that Bitcoin surged from around $62,000 to $80,000 over the past week, pushing a large number of call options into in-the-money territory and putting market makers under greater hedging pressure. Currently, options within 5% of the current price have a notional value exceeding $500 million. The approaching expiry could trigger more frequent gamma hedging, leading to a "pinning" effect on prices near key strike prices, or accelerated volatility after breaking through critical levels.
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