BTC and ETH Options Expiry and $1.2B Deribit Roll Dey Show Say Volatility Don High, Traders Dey Set Position
Di June 6, 2025, Bitcoin and Ethereum options wey worth over $3.8 billion expire, and dis one make market dey hot, pipu con dey expect say price go dey swing more. Key max pain points wey dem see na $105,000 for BTC and $2,600 for ETH. After some time wey positions dey fall, total open interest bounce back by 10%, and big companies still dey dominate, especially for Deribit and CME. Wetin really stand out na one $1.2 billion Bitcoin options trade for Deribit, wey involve selling July 112,000-120,000 calls to take fund September 115,000-140,000 call spread. Dis kind trade pattern mean say traders expect say Bitcoin go chill small for summer, before e go likely jump up for September, and the market maker go carry plenty Gamma and Theta risk, expecting movement after small calm. Short-term price swing jump up after Elon Musk and Donald Trump get public fight, and BTC price briefly fall from $106,000 to $100,000 before e bounce back. Even though short-term risk only reduce small, most of the price swing still concentrate for short maturities. ETH options too see plenty buying interest, especially for June calls, and dis one push hin front-end implied volatility up. The options-to-futures open interest ratio for BTC na 58.14%, wey mean say hedging and speculation dey balanced, but ETH own lower, na 21.19%. Generally, because of economic uncertainty, big external factors, and open interest wey concentrate for main derivatives exchanges, both BTC and ETH go still get more price swings. Traders suppose dey monitor upcoming maturity dates, open interest ratios, and wetin big companies dey do for market to sabi wetin go happen to prices for short and long term.
Neutral
Wetin happen for options expiry wey big and wetin dem roll $1.2 billion for Deribit don make open interest increase and bring back talk of volatility. Traders dem dey prepare for one quiet summer, but dem dey expect strong market move for September. Small small volatility, especially from things wey nobody know how dem go happen outside, like social media fight, fit cause sudden price change. But recent options wey dem trade show say dem balance hedging and speculation, no be say dem just put all dem money for one direction. Big big companies still dey involved well well, as most of the open interest still dey for di main derivatives platforms. Even though short-term volatility fit jump, especially when big news happen, di general market feeling still dey carefully optimistic, no be say dem sure say market go go up or go down. So, wetin dem expect for BTC and ETH prices na neutral, as dem dey watch out for coming option expiry dates and wetin big companies go do to know wetin go happen next.