{"id":254937,"date":"2021-05-20T23:45:00","date_gmt":"2021-05-20T20:45:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bears-positioned-to-take-the-lead-as-930m-in-bitcoin-options-expire-friday\/"},"modified":"2021-05-20T23:45:00","modified_gmt":"2021-05-20T20:45:00","slug":"bears-positioned-to-take-the-lead-as-930m-in-bitcoin-options-expire-friday","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bears-positioned-to-take-the-lead-as-930m-in-bitcoin-options-expire-friday\/","title":{"rendered":"#Bears positioned to take the lead as $930M in Bitcoin options expire Friday"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a41df35d72ee\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a41df35d72ee\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bears-positioned-to-take-the-lead-as-930m-in-bitcoin-options-expire-friday\/#Dont_fall_for_what_looks_to_be_a_%E2%80%98balanced_situation\" >Don\u2019t fall for what looks to be a &#8216;balanced&#8217; situation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bears-positioned-to-take-the-lead-as-930m-in-bitcoin-options-expire-friday\/#The_bears_advantage_is_likely_to_spill_off_for_next_week\" >The bear&#8217;s advantage is likely to spill off for next week<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#Bears positioned to take the lead as $930M in Bitcoin options expire Friday<\/strong>&#8221;<\/p>\n<p style=\"float:right;margin:0 0 10px 15px;width:240px\"><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvNDRmNjY4MzgtODMzZi00Y2UyLWJiNTYtNjJlNWQyMjgzY2Q3LmpwZw==.jpg\" class=\"type:primaryImage\"><\/p>\n<pre><code>                Derivatives data for Bitcoin weekly options suggests bears may have the upper hand in tomorrow\u2019s $930 million expiry.\n                &lt;p&gt;On May 21 at 8:00 AM UTC, $930 million worth of Bitcoin (BTC) weekly options will expire. As usual, the leader Deribit holds a 90% share, but the recent market drop might have given bears too much power.\n<\/code><\/pre>\n<p>While traders and analysts scramble to find a rationale for the 53% drop from the $64,900 all-time high, ExoAlpha CIO David Lifchitz perfectly described the recent market conditions when he said:<\/p>\n<blockquote><p>\u201cThis looks like the final flush-out after the last couple of months of an irrational bull run, shitcoin frenzy and other antics.\u201d<\/p><\/blockquote>\n<p>The correction was so strong that even avid Bitcoin defenders flipped, including the global Chief Investment Officer of investment giant Guggenheim, who dubbed crypto markets as \u2018tulipmania\u2019.<\/p>\n<p>Regardless of the reasons behind the price action, traders that held previously inexpensive rights to sell Bitcoin at $45,000 or $46,000 are now celebrating.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/608b8962-4d22-4871-aee3-1890594ce7c7.png\" \/><figcaption style=\"text-align: center\"><em>Bitcoin aggregate weekly options for May 21. Source: Bybt<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Dont_fall_for_what_looks_to_be_a_%E2%80%98balanced_situation\"><\/span>Don\u2019t fall for what looks to be a &#8216;balanced&#8217; situation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Although the current setup looks balanced between call (buy) options and the neutral-to-bearish put (sell) options, Bitcoin\u2019s 30% drop has shifted the balance to favor bears over the past two weeks.<\/p>\n<p>Out of the 11,872 call options, only 15% have been created using $44,000 and lower strikes. This means the remaining 85% became worthless, as there are less than 14 hours left for the weekly expiry. Therefore, the 1,850 neutral-to-bullish call options below $44,500 represent a $75 million open interest. <\/p>\n<p>On the other hand, 88% of the put options have $36,000 or higher strikes. Those options allow its buyer to sell Bitcoin at a fixed price, so most commonly used on neutral-to-bearish strategies.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_bears_advantage_is_likely_to_spill_off_for_next_week\"><\/span>The bear&#8217;s advantage is likely to spill off for next week<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Unlike futures contracts, there is not much gain in rolling over a losing position to the following week. As we <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roach the expiry date, a right to acquire Bitcoin at $50,000 is effectively worthless right now. That\u2019s the reason why bears\u2019 current advantage will likely continue exerting pressure.<\/p>\n<p>Overall, the put options at $36,000 and higher amount to $400 million in open interest. The $325 million difference favoring the more neutral-to-bearish options is a decent advantage as we approach Friday\u2019s expiry.<\/p>\n<p>However, it is important to highlight that monthly options usually handle most of the action, and May 28 will be no different with $1.95 billion open interest. While it seems premature to call it, bears will likely continue to pressure markets considering there are almost no call options at $38,000 or lower for next week.<\/p>\n<p><em>The views and opinions expressed here are solely those of the <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/noshitcoins\"><em>author<\/em><\/a><em> and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.<\/em><\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bears-positioned-to-take-the-lead-as-930m-in-bitcoin-options-expire-friday\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Bears positioned to take the lead as $930M in Bitcoin options expire Friday&#8221; Derivatives data for Bitcoin weekly options suggests bears may have the upper hand in tomorrow\u2019s $930 million expiry. &lt;p&gt;On May 21 at 8:00 AM UTC, $930 million worth of Bitcoin (BTC) weekly options will expire. As usual, the leader Deribit holds a&#8230;<\/p>\n","protected":false},"author":1,"featured_media":254938,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvNDRmNjY4MzgtODMzZi00Y2UyLWJiNTYtNjJlNWQyMjgzY2Q3LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-254937","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/254937","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=254937"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/254937\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/254938"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=254937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=254937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=254937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}