Quarterly Bitcoin and Ethereum options with a total notional value of $18.1 billion are set to expire on Friday, September 25. The end-of-quarter settlement puts millions of derivative contracts worth billions of dollars squarely in the focus of market participants. Data from the Coinbase Markets terminal shows Bitcoin’s open interest put/call ratio standing at 0.66, while the 24-hour trading volume ratio fell to 0.37. This imbalance provides a concrete signal that call options are dominating transaction flows ahead of the contract expiration.
Bullish Bets Outweigh Put Contracts
Derivatives exchange Deribit confirmed an order book structure aligning with Coinbase data. Open interest across Bitcoin call options has mounted to a notional value of $9.61 billion. This $9.61 billion figure creates a wide liquidity gap over put holdings, which capped out at $6.52 billion in total premium value. The accumulating capital gap reflects institutional trading sentiment heavily anticipating further upside before the settlement date.
Ether options order books show a similar directional trend. Ether’s open interest put/call ratio currently sits at 0.61. Call options hold $1.34 billion in notional value, compared to just $820.1 million trailing on the put side. The heavy concentration of capital in call positions highlights aggressive positioning from traders aiming to capitalize on upward price action ahead of the derivative contract expiry.
Initial Test for New Resistance Levels
The prevailing bullish bias in options markets has filtered into spot trading volume. Ether’s spot price broke out of its consolidation range by breaching technical resistance at $2,661.52. Market analysts are revising target projections based on this breakout, forecasting potential momentum that could drive prices toward the next resistance zone around $3,050. Whether this trajectory holds will depend heavily on the previous resistance level holding as support against post-breakout selling pressure.
The impending $18.1 billion expiry is initiating a round of portfolio rebalancing and hedging recalibrations among market makers. The final derivative settlement during this weekend’s session sets the stage for a critical battle as Ether’s spot price works to absorb quarterly closing volatility.
Reported by crypto.news.
Also read: How Crypto Staking Works and Its Risks
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
