Over 83,000 Bitcoin options expire Friday, September 25th

Sunday 20 September 2020, 5:38 AM AEST - 1 month ago

Quick take:

  • This number beats Augusts record of 62k BTC options
  • Such a high number of options expiring should bring considerable volatility
  • Bitcoin is once again trading above $11k and the expiry of 83k BTC options could result in a dip

The month of September is slowly coming to an end, and with it, the expiry of Bitcoin (BTC) options on the last Friday of the month. According to the team at Skew, over 83.4k Bitcoin options expire on the 25th of September. This amount is very much higher than last months expiry of 62,000 BTC options.

The team at Unfolded captured the high number of Bitcoin options expiring next week via the following Tweet. To note is that they highlighted 80k BTC options but a quick glance at Skew.com reveals the number has increased to 83.4k as seen in the chart that follows the tweet.

80k $BTC options expiring next week Friday pic.twitter.com/B4Y0x4dez8

— Unfolded (@cryptounfolded)

High Chances there Will Be Bitcoin Volatility

With such a high number of Bitcoin options expiring and additional CME Bitcoin futures that expire on the same day, it is safe to conclude that the probability of an increase in volatility next week is very high. In order to determine the direction of the volatility, the daily BTC/USDT chart provides adequate information.

Over 83k Bitcoin (BTC) Options Expire Friday, Sept. 25th 18Over 83k Bitcoin (BTC) Options Expire Friday, Sept. 25th 18

From the BTC/USDT chart, the following can be observed.

  • Daily trade volume is in the green but reducing
  • MACD is clearly indicating a bullish environment for

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