Approximately 81,700 Bitcoin options worth $6.44 billion in notional value expire on Deribit Friday at 08:00 UTC. The max pain level sits between $68,000 and $70,000, roughly $9,000 to $11,000 below Bitcoin’s current price near $79,000. Call open interest is concentrated at the $75,000 and $80,000 strikes, with more than $500 million in notional sitting within 5% of spot price. According to New Market Trading CEO Frank Hepworth, 62% of Friday’s contracts are on track to expire worthless, and September’s expiry is expected to be nearly twice the size.
Source: Read the original article
