Will Markets Fall Further When $4.7B Crypto Options Expire?
Around 30,500 Bitcoin options contracts will expire on Friday, September 5, and they have a notional value of roughly $3.4 billion.
This expiry event is much smaller than last week’s end-of-month event, so there is unlikely to be any impact on spot markets, which are in the red again.
US jobs data has not been positive this week, and the country now has more unemployed people than job openings. “In two weeks, the Fed will cut rates and ‘blame’ a collapsing labor market; a lot is about to change,” commented the Kobeissi Letter.
Bitcoin Options Expiry
This week’s batch of Bitcoin options contracts has a put/call ratio of 1.38, meaning that there are more short contracts expiring than longs, as bullish momentum…
