- Bitcoin options expiry on May 30 presents a $13.8 billion exposure, with bulls aiming to keep BTC above $110,000.
- Open interest for put options is $6.5 billion, but 95% of these are below the $109,000 strike price.
- Strong inflows into spot Bitcoin exchange-traded funds (ETFs) show robust demand above $105,000.
- Bulls benefit from a clear edge due to weak put positioning and large call option volume.
- Key price scenarios estimate up to $4.7 billion in theoretical profits favoring bulls if BTC exceeds $110,000.
Bitcoin is set for its largest monthly options expiry of the year on May 30, with a total exposure reaching $13.8 billion. Traders are focusing on whether BTC’s price can be held above $110,000, allowing bullish investors to maximize gains from $4.8 billion in call options.
Data shows open interest in put (sell) options stands at $6.5 billion, but 95% of these positions are set below the $109,000 mark. This means if Bitcoin remains at current levels, only $350 million worth of put options will be significant when contracts expire.
Open interest in call (buy) options up to $109,000 totals $3.8 billion, according to Laevitas.ch. Some traders may have sold these calls as a strategy to manage risk above certain price thresholds. Recent trading at Deribit highlights strategies like the “short call,” which aims for fixed returns as long as Bitcoin doesn’t rise above a set price, and “bull call spreads,” which limit downside by capping maximum gain.
Net inflows of $1.9 billion into U.S. spot Bitcoin ETFs between May 20 and May 22 underscore continued investor interest above the $105,000 level. The total open interest in Bitcoin futures now stands at $79 billion. High demand for short (sell) positions exists, but if Bitcoin rises above $110,000, investors who bet against the price may be forced to close those positions.
There are four main outcome ranges based on current trends: For prices between $102,000 and $105,000, calls outweigh puts by $1.85 billion. Between $105,000 and $107,000, the difference is $2.65 billion. For $107,000 to $110,000, it stands at $3.35 billion, and above $110,000, it grows to $4.7 billion in favor of call holders.
Ongoing trade tensions and broader market performance may influence Bitcoin’s next move, but for this expiry, bulls currently hold the advantage. For further details, see original data at Laevitas.ch.
This article is for general informational use and is not intended as investment advice.
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