$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.
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.
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.