37,000 Bitcoin options expired in the market today. Bitcoin price is moving steadily just above $42,700.
At noon today, 37,000 Bitcoin options with a bid-ask ratio of 1.02 expired. According to stock exchange data, their total value was at the level of 1.58 billion dollars.
The max pain point of the options was at $42,000. Large investors can push the price of the underlying asset closer to the max pain point before an option expires.
In this case, the maximum loss for option buyers is; Those who sell can make maximum profit. Max pain theory is based on the ability of large investors to make a manipulative maneuver against small investors.
According to TradingView data, Bitcoin dropped to $ 40,500 this week, and at the time of writing, it is trading at $ 42,724.
According to Greeks.live analysis, the fact that put options are larger than call options is due to this mobility.
According to Deribit data, one of the largest derivatives exchanges, the upcoming open positions are concentrated on December 29. There are approximately $7 billion worth of options in total that will expire on this date.