Bitcoin traders are preparing for a $8.8 billion options expiry set for December 26. Despite a significant portion of the $200,000 calls, the chances of these expectations being realized remain extremely low.
Calls Dominate, But Bears Comfortable Below $120K
Currently, total open interest for call options stands at $6.45 billion, while put options trail at $2.36 billion. This data indicates a clear advantage for call options, though bearish traders appear somewhat comfortable with Bitcoin remaining below $120,000.
$900M in Put Options Targeting $50–$80K
Despite a significant open interest in $200,000 calls, traders are also showing interest in almost $900 million in put options targeting the $50,000 to $80,000 range, indicating a bearish sentiment in the market.
Concerns Over Estimations and Real Growth Chances
Aggressive strike prices may grab headlines, but the actual data suggests low chances for significant price movements of Bitcoin in the near future.
In conclusion, traders continue to actively place bets, but the likelihood of reaching price levels of $200,000 remains extremely low. Meanwhile, active interest in put options signals concerns from a part of the market.
