Bitcoin Options Report | September 16, 2021

BTC Options Trading Report | Thursday, September 16, 2021

HXRO Labs – US residents | Hxro Trade – International 

KEY HEADLINES

Bitcoin Options Volume

In total, during the last 24 hour period, crypto traders and hedgers have sold more crypto option contracts than they have bought. Premium sellers totaled 8681 puts and calls sold versus 7250 bought.

Put sellers have the most volume, with 4449 contracts sold versus 3652 puts bought. Bitcoin calls bought totaled 3597 contracts versus 4231 calls sold. The puts bought in the 40,000 strike had the most volume across all strikes and positioning, with 992 bought.

In the past 24 hours, more than $816m in premium has traded in BTC derivatives. The put/call ratio for volume trading across exchanges is .958, with 51.1% calls vs. 48.9% puts traded. An overview of the total crypto options outstanding contracts is below. Crypto options traders are still positioned heavily in OTM call contracts. The 100,000 calls still lead with the highest open interest across all strikes with 11,958 contracts outstanding, followed by the 50,000 calls with 9,102 contracts outstanding.

For the September 17th Bitcoin options expiration, the 54,000 calls have the highest open interest with 1280 contracts outstanding, followed by the 30,000 puts with 1173 contracts outstanding.

For the September 24th Bitcoin options expiration, the 50,000 calls have the highest open interest with 4349 contracts outstanding, followed by the 64,000 calls with 4280 contracts outstanding.

For the October 1st Bitcoin options expiration, the 42,000 puts have the highest open interest with 785 contracts outstanding, followed by the 46,000 puts with 561 contracts outstanding.

For the October 8th Bitcoin options expiration, the 58,000 calls have the highest open interest with 91 contracts outstanding, followed by the 44,000 puts with 81 contracts outstanding.

For the October 29th Bitcoin options expiration, the 100,000 calls have the highest open interest with 3011 contracts outstanding, followed by the 80,000 calls with 2444 contracts outstanding.

For the November 26th Bitcoin options expiration, the 200,000 calls have the highest open interest with 5129 contracts outstanding, followed by the 100,000 calls with 3965 contracts outstanding.

For the December 31st Bitcoin options expiration, the 200,000 calls have the highest open interest with 5129 contracts outstanding, followed by the 100,000 calls with 3447 contracts outstanding.

For the March 25th Bitcoin options expiration, the 70,000 calls have the highest open interest with 1,067 contracts outstanding, followed by the 100,000 calls with 1049 contracts outstanding.

For the June 24th Bitcoin options expiration, the 100,000 calls have the highest open interest with 906 contracts outstanding, followed by the 20,000 puts with 668 contracts outstanding.

Top Block Trades by Premium Size – September 16, 2021

Key Takeaways: 

The put/call ratio has increased since last week, and we are seeing a lot more put activity especially for the next few week’s expirations. Implied vols have come down across the term structure in the past 24 hours. We will be watching closely for big crypto options trades, follow us on Twitter and tune into our weekly Livestreams for deep dives into trading bitcoin, crypto, and options! 

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Disclaimer:

This commentary is provided as general information only and is in no way intended as investment advice, investment research, a research report, or a recommendation. Any decision to invest or take any other action with respect to the digital assets and/or securities discussed in this commentary may involve risks not discussed herein, and such decisions should not be based solely on the information contained in this report. Option data generated from Gvol, crypto traders, and trades on Deribit. Past performance is not indicative of future results.

©2021 Hxro Labs

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