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Tuesday

28 September 2021

Bitcoin bulls look to profit from Friday’s $195M BTC options expiry

Bitcoin bulls look to profit from Friday’s $195M BTC options expiry


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Bitcoin bulls look to profit from Friday’s $195M BTC options expiry.

17 expiry will be a test of strength for bears because 88% of the $310 million put (sell) options have been placed at $47,000 or lower.

A put option is a right to sell Bitcoin at a predetermined price on the set expiry date.

For example, if the Bitcoin expiry price is below $47,000, their open interest is reduced to $34 million.

After all, what good is a right to acquire Bitcoin at $52,000 if it's trading below that price.

The data below shows how many contracts will be available on Friday, depending on the expiry price.

Both buyers and sellers will show their strength on the hours preceding Friday's expiry, and the bears will try to minimize the damage by keeping the price below $48,000.

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cointelegraph.com
Market data feeds provided by cryptocompare.com
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