The $6 billion expiration countdown: Traders pile into $82,000 bitcoin calls ahead of May 29 expiry
Hex37's read
- Deribit bitcoin open interest now exceeds BlackRock's IBIT.
- Traders are positioning for a $6 billion options expiry on May 29.
- Market focus is split between $75K max pain and $80K call targets.
What it means for traders
- Expect increased volatility as traders hedge or roll positions near the $80K strike price.
- The $75K max pain level may act as a magnet for price action leading into the May 29 expiry.
Affected markets
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