Bitcoin options worth $3.6 billion will expire today. Speculators would have one last chance to buy or sell Bitcoin at a fixed amount.

Bitcoin options offer traders a one-of-a-kind opportunity to buy or sell BTC at a predetermined price. The cost of an option contract is determined by the time of purchase, strike price, and expiration date.

The exercise price of an option is the price at which the underlying asset may be purchased or sold.

The Bitcoin (BTC) distribution options that will expire on April 30 are depicted in the graph above. The current “maximum pain price” that Bitcoin will expire at, according to data from crypto derivatives exchange Deribit, is $54,000, which is very similar to Bitcoin’s current price. BTC is currently trading at $54,403 at the time of publishing.

The price at which a Bitcoin options holder loses the most money in the market is the most painful.

In other words, investors who previously purchased options will lose their time and opportunity cost of reinvesting option premiums if the maximum pain price is reached.

This is the price at which most options are worthless since it is the same as buying or selling Bitcoin on the open market. Option holders, on the other hand, must also pay the option premiums to secure their position.

Many investors still have a considerable amount of open interest at an exercise price of around $80,000, with genuine interest reaching 7.76K BTC.

The amount of option contracts owned by investors in all markets at the end of the previous trading day is known as open interest.

Since Bitcoin’s current price is hovering around $54K, it appears that it is neither bullish nor bearish in the short term, and Bitcoin’s stabilisation could last for a long time.


Since the bullish contract holders who have amassed Bitcoin at a high strike price are unlikely to exercise choice. If they choose this option, these investors can purchase Bitcoin at a higher price, causing the price to rise.

The majority of bearish open interest, on the other hand, is concentrated around $50,000 and $52,000, priced at 3.75K and 4.06K BTC, respectively.

There’s also a slim chance that bearish speculators would be able to sell assets at this fixed price.

However, the overall pain price of options contracts with a May 7 expiry date is floating around $56,000, which is higher than the current “maximum pain price” of $54,000.

This demonstrates that there are still more optimistic investors who believe Bitcoin will reach $56K next week.

Currently, there is $13.54 billion worth of available Bitcoin options positions, with more than 88 per cent coming from Deribit.

It is the world’s largest crypto derivatives exchange and nearly 68,500 BTC worth of expiring options contracts.