Bitcoin and Ether Options Trading on Deribit Reaches All-Time High

Cryptocurrency Options Value Hits All-Time High of $23B on Deribit Exchange

Bitcoin and Ether options value on Deribit hits record high of $23B

Bitcoin (BTC) and ether (ETH) options trading on Deribit is sizzling hot, like a sizzling hot 🌶️ burrito straight out of the oven! I’m telling you, folks, the cumulative dollar value locked in the number of open BTC and ETH options contracts has soared to $23.6 billion, the highest it has ever been! It’s like those options are doing the salsa dance, shaking things up in the crypto market!

Now, let’s break it down. BTC options make up a whopping 67% of this record-breaking tally, while ETH adds its own flavorful contribution to the rest. And hey, on Deribit, one options contract represents one BTC or one ETH. It’s like sitting down at a fancy restaurant and having two delicious options on the menu. Can’t decide? Why not have both and indulge in the flavors of both these cryptocurrencies!

According to Deribit’s Chief Commercial Officer Luuk Strijers, the options notional open interest has skyrocketed to new heights. We’re talking about $16 billion in BTC options and $7.6 billion in ETH options, making up a total of $23.6 billion! But wait, there’s more! Adding the $2.2 billion in perpetuals and futures OI, Deribit has gone above and beyond, breaking the $25 billion milestone. They’re like the Michael Jordan of crypto derivatives!

Now, let’s dive into the world of options trading. It’s a three-dimensional rollercoaster ride that allows investors to take leveraged bets on the underlying asset and protect themselves from any surprises in the spot/futures market. It’s like riding a rollercoaster that not only takes you up and down but also spins you around. There’s so much action and excitement!

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Options trading is not just about the direction of the price move; it’s also about the degree of expected price volatility and time. It’s like a multi-flavored ice cream swirl, where you can choose the intensity of each flavor. In comparison, the spot and futures markets are like plain vanilla, focusing only on the price direction. Options bring the pizzazz, the zing, and the extra spice to the trading game!

This surge in options open interest is a sign of sophisticated traders entering the crypto market. It’s like the cryptoverse is no longer just a playground for the early adopters, but a vibrant and dynamic ecosystem attracting traders with all sorts of strategies. And with more traders come better price discovery. It’s like finding that diamond in the rough, that hidden gem that will make everyone say, “Wow, you nailed it!”

So, what’s the flavor of choice when it comes to options right now? Well, the open interest is mostly concentrated in call options. In the case of bitcoin, there’s a cluster of open interest around calls at $50,000, $40,000, and $45,000 strikes. As for ether, calls at $2,300, $2,400, $2,500, and $3,000 are stealing the spotlight. It’s like these calls are shouting, “Come and get it! The price is going up, up, up!”

And you know what? The bias for calls aligns perfectly with the ongoing rally in both cryptocurrencies. Bitcoin has reached a high of $44,000, while ether is dancing close to the $2,400 mark. It’s like watching a thrilling race where both BTC and ETH are sprinting towards the finish line, leaving everyone in awe. They’re like the Usain Bolts of the crypto world!

So, dear readers, who’s ready to join the party? The crypto market is a vibrant and exciting place, full of opportunities and surprises. With the surge in options trading, there’s never been a better time to dive in and explore the flavors of Bitcoin and Ether. So, grab your trading hats, put on your dancing shoes, and let’s boogie with the crypto stars!

Readers, have you tried options trading on Deribit? What are your favorite flavors of BTC and ETH calls? Share your thoughts and experiences in the comments below!

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