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Tuesday

29 September 2020

Bitcoin Options Traders Bet the Price of BTC Can Touch $36K by December | Finance Bitcoin News

Bitcoin Options Traders Bet the Price of BTC Can Touch $36K by December | Finance Bitcoin News


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Bitcoin Options Traders Bet the Price of BTC Can Touch $36K by December.

This past weekend, data shows the most active bitcoin options contracts were calls for $28k, $32k, and $36k by the year’s end.

This means a number of options traders are betting the price of bitcoin will exceed the all-time high (ATH) the decentralized currency touched in December 2017.

“[December 2020] $28k, $32k, [and] $36k calls among the most active bitcoin options contracts yesterday,” Skew tweeted.

Essentially, bitcoin options are crypto-derivatives products that provide a person or group with the right, but not obligation to buy and sell the BTC at a predetermined strike price, while also leveraging an expiry date.

Sharing a chart of the total BTC Options OI by expiry positions two days before the weekend, Skew said the traders are “Gearing up towards a pretty chunky bitcoin options expiry at the end of the month.”.

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