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Tuesday, December 1, 2020

Reasons Bulls Have Remained Unbothered After $525M Bitcoin Expiration Of Options This Friday

$525 million bitcoin open interest options are going to expire on 13th November 2020. The previous week as well the open interest options that reached its expiration date was $470 million. Huge volume undergoes quarterly and monthly options and presents a new set of unfamiliar activities.

The call-buy ones were 30% bigger than put-sell open interest options as witnessed on 5th November.

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Bit.com holds $72 million open interest in anticipation of the expiry on Friday, while Deribit Exchange has about $431 million options.

Bitcoin Selling And Buying Rate

Before we consider the question of bullish versus bearish, we must consider the sale and buy pressure before expiry.

$18,000 options of call holders do not have much to profit by pushing the bitcoin price up to $16,500 within the few hours left before expiry. We must consider these options to be worthless in the stock market. The put-sell option of $14,000 has a similar fate of being of no value.

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The 5,915 bitcoin call options in possession of Deribit exchange is between the range of $14,000 and $15,750.

There is 1,050 bitcoin held by Bit.com and 490 bitcoin under OKEx.

$117 million is in an immediate open interest option that is in support of the current level.

Within the range of $15,250 and $16,500 options, there is 2,130 bitcoin in possession of Deribit exchange, 860 bitcoins under Bit.com, and 100 bitcoins under OKEx. As a result, $48 million is up in immediate open interest options.

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