Bitcoin

<h2 id="quick-take">Quick Take</h2> 
The Bitcoin options market is witnessing a surge not seen before, indicative of growing investor confidence and potential market trends. The Options Open Interest, which signifies the total funds allocated in options contracts, marked a record high on Nov. 10 with a notional value of $18.05 billion, equivalent to 491,000 BTC. The lion’s share of this momentum can be attributed to Deribit, contributing approximately $14.5 billion, according to Coinglass. 
<figure id="attachment_372913" aria-describedby="caption-attachment-372913" style="width: 100%" class="wp-caption aligncenter">
 <img fetchpriority="high" decoding="async" class="wp-image-372913 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/11/OI2.png" alt="Options Open Interest: (Source: Coinglass)" width="1224" height="500" srcset="https://cryptoslate.com/wp-content/uploads/2023/11/OI2.png 1224w, https://cryptoslate.com/wp-content/uploads/2023/11/OI2-300x123.png 300w, https://cryptoslate.com/wp-content/uploads/2023/11/OI2-1024x418.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/11/OI2-768x314.png 768w" sizes="(max-width: 1224px) 100vw, 1224px">
 <figcaption id="caption-attachment-372913" class="wp-caption-text">
 Options Open Interest: (Source: Coinglass)
 </figcaption>
</figure> 
Further, the options volume on Deribit, defined as the total volume transacted in options contracts within the last 24 hours, peaked at $2.62 billion, making it the second-highest recorded volume this year, according to Coinglass. 
<figure id="attachment_372916" aria-describedby="caption-attachment-372916" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-372916 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/11/OV2.png" alt="Options Volume: (Source: Coinglass)" width="1236" height="502" srcset="https://cryptoslate.com/wp-content/uploads/2023/11/OV2.png 1236w, https://cryptoslate.com/wp-content/uploads/2023/11/OV2-300x122.png 300w, https://cryptoslate.com/wp-content/uploads/2023/11/OV2-1024x416.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/11/OV2-768x312.png 768w" sizes="(max-width: 1236px) 100vw, 1236px">
 <figcaption id="caption-attachment-372916" class="wp-caption-text">
 Options Volume: (Source: Coinglass)
 </figcaption>
</figure> 
Notably, the total open interest of both call and put options by strike price for a specific contract scheduled for Nov. 24th highlights a ‘call wall’ at $40,000. This represents 5,528 Bitcoin in terms of call options, carrying a notional value of $203 million, according to Deribit. However, the landscape evolves as we approach the year’s end. 
<figure id="attachment_372917" aria-describedby="caption-attachment-372917" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-372917 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/11/strike.png" alt="Options by strike price, Nov. 24: (Source: Deribit)" width="1887" height="401" srcset="https://cryptoslate.com/wp-content/uploads/2023/11/strike.png 1887w, https://cryptoslate.com/wp-content/uploads/2023/11/strike-300x64.png 300w, https://cryptoslate.com/wp-content/uploads/2023/11/strike-1024x218.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/11/strike-768x163.png 768w, https://cryptoslate.com/wp-content/uploads/2023/11/strike-1536x326.png 1536w" sizes="(max-width: 1887px) 100vw, 1887px">
 <figcaption id="caption-attachment-372917" class="wp-caption-text">
 Options by strike price, Nov. 24: (Source: Deribit)
 </figcaption>
</figure> 
By Dec. 29th, the call options remain primarily at $40,000, but the notional value escalates to a staggering $400 million, doubling the previous figure. 
<figure id="attachment_372911" aria-describedby="caption-attachment-372911" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-372911 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/11/dec.png" alt="Options by strike price: (Source: Deribit)" width="1894" height="406" srcset="https://cryptoslate.com/wp-content/uploads/2023/11/dec.png 1894w, https://cryptoslate.com/wp-content/uploads/2023/11/dec-300x64.png 300w, https://cryptoslate.com/wp-content/uploads/2023/11/dec-1024x220.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/11/dec-768x165.png 768w, https://cryptoslate.com/wp-content/uploads/2023/11/dec-1536x329.png 1536w" sizes="(max-width: 1894px) 100vw, 1894px">
 <figcaption id="caption-attachment-372911" class="wp-caption-text">
 Options by strike price, Dec 29: (Source: Deribit)
 </figcaption>
</figure> 
The post <a href="https://cryptoslate.com/insights/bitcoin-options-open-interest-soars-to-unprecedented-18-billion/">Bitcoin options open interest soars to unprecedented $18 billion</a> appeared first on <a href="https://cryptoslate.com">CryptoSlate</a>.

Bitcoin options open interest soars to unprecedented $18 billion

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