Bitcoin options worth about $16 billion in notional value are due to expire on Deribit at 08:00 UTC on Sept. 25, an event expected to spark volatility as traders could reposition. Deribit CEO Luuk Strijers puts maximum pain at $75,000.
The $16 billion is the contracts’ notional value, not cash changing hands. “Maximum pain” is the price at which options traders collectively experience the most losses. The 0.68 put-to-call ratio means calls outnumber puts and suggests bullish sentiment among Bitcoin options traders; Decibel put Bitcoin at $83,838 at the time of writing.
