Futures contracts and options have attracted great interest in Bitcoin in recent months. With this interest, open positions in option contracts in regulated and non-regulated exchanges reached $ 1.9 billion. According to Skew.com, which provides data about the markets, only open positions in Deribit Bitcoin options are $ 1.2 billion. The share of CME, which is the stock exchange where institutional investors have another focus, is 440 million dollars.
Today will be a great day for option contracts. Today, a total of approximately 115 thousand contracts will expire.
Option contracts include derivative instruments that give the buyer the right to buy or sell the underlying asset at a specific date or earlier. Option buyers pay premiums to get this right to buy or sell. The call option also gives you the option to buy and sell an asset.
The end of the $ 1 billion option contract is thought to have an impact on the price. However, Nicholas Pelecanos of NEM Venture Fund, who spoke to the press, does not expect a significant impact on the price. "I don't expect the end date to have a big impact on the BTC price," Pelecanos said. said. He says the options are very low on the sales side and very high on the buying side.
On the other hand, the price volatility these contracts may have created may have already been experienced. Bitcoin dropped to the $ 8900 level yesterday and then went above $ 9300.