Guys, let's consider, why Bitcoin bulls are well positioned to profit from this week’s $4.2B options expiry
The open interest for the March 31 options expiry is $4.2 billion, but the actual figure will be lower since bears were expecting sub-$26,500 price levels. These traders were caught by surprise as Bitcoin gained 32% between March 12 and March 17.
The 1.34 call-to-put ratio reflects the imbalance between the $2.4 billion call (buy) open interest and the $1.8 billion put (sell) options. However, if Bitcoin's price remains near $28,000 at 8:00 am UTC on March 31, only $25 million worth of these put (sell) options will be available.
This difference happens because the right to sell Bitcoin at $26,000 or $27,000 is useless if BTC trades above that level on expiry.
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