The expiration of Bitcoin options always generates some expectation in the cryptocurrency market. To know to what time do Bitcoin options expire it can be useful for operators to plan their operations.
Bitcoin options expire today, however there is no set time. It depends on the type of options. For example, the options Deribit They expired today at 8:30 AM UTC.
To expire in a 30 minutes 08:00 UTC
🔹 99k $ BTC options, USD 5.1 B notional
🔹 BTC March Futures USD 240m
🔸 608k $ ETH options, USD 1 B notional
🔸 ETH March Futures USD 51m
Total USD 6.4 billion
– Deribit (@DeribitExchange) March 26, 2021
Deribit takes most of the action because, as the tweet shows, it has expired options worth $ 5.1 billion.
What time do Bitcoin options expire on CME?
Nevertheless, options are also expected to expire in the CME. The time is set at 4 PM UTC.
These are two totally different markets, since the CME Bitcoin options They are usually aimed at institutional investors, unlike Deribit options, which are open to a wider audience.
In total there are 118,000 expiring Bitcoin contracts worth more than $ 6 billion .
Why the expiration of Bitcoin options can create tensions
Undoubtedly, these figures can bring disturbances to the market. In fact, options serve a dual purpose for traders:
- to protect yourself from risk;
Traders generally review their strategies, either up or down, after options expire. Now the next date to mark on the calendar is June 2021, when the quarterly options whose contracts will be renewed shortly expire.
Meanwhile, after yesterday's volatility, the market appears to be reacting well to options expiration. Bitcoin is back on the rise today and is currently at $ 53,500, having been close to hitting the psychological threshold of $ 50,000 in the last 24 hours. It will be important to see the evolution of the weekend to understand if BTC will have the strength to return to $ 57,000 (Monday's opening values) or if a moment of weakness has begun.