What to know:
- Oh, what a jolly day! Bitcoin‘s price has soared to a dizzying $111K, sending traders into a delightful frenzy in the Deribit options market! 🎉
- And guess what? The dollar value of open options contracts on Deribit has ballooned to a whopping $42.5 billion! That’s a lot of dough, folks! 💵
As Bitcoin (BTC) did its marvelous leap to new heights above $111K during Thursday’s Asian trading hours, it sparked a raucous party in the Deribit options market. Traders were dancing with glee! 💃🕺
According to the ever-so-wise CEO of Deribit, Luuk Strijers, the notional open interest (OI) — which is just a fancy way of saying the dollar value of all those active options contracts — has hit a record $42.5 billion! Can you believe it? That’s more than a dragon’s hoard! 🐉💰
Now, options are like magical tickets that give you the right (but not the obligation) to buy or sell the underlying asset at a predetermined price later on. A call option is like a golden ticket to buy, while a put option is your trusty umbrella against price rain! ☔️
With BTC’s thrilling ascent, traders have been chasing after those higher strike call options like kids after an ice cream truck! 🍦
“In the last 24 hours, the most popular strikes were the $120K and $130K upside calls for May and June expiry. The highest OI now sits at the $110K, $120K, and even a cheeky $300K June 27 strike — showing bullish conviction!” Strijers exclaimed, probably while doing a little jig! 💃
Deribit, the grandest crypto options exchange in the land, accounts for nearly 80% of all the global crypto options activity! It’s like the king of the castle! 👑 The exchange also offers trading in perpetuals and spot markets, making it a one-stop shop for all your crypto needs!
And hold onto your hats, because Coinbase, the publicly traded crypto exchange, has plans to gobble up the derivatives exchange Deribit in a jaw-dropping $2.9 billion deal! Talk about a feast! 🍽️
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2025-05-22 10:56