The biggest Bitcoin options expiry in Deribit history is about to arrive, but for most bulls, it may already be over.
Around $10.6B in $BTC options expire this Friday. The striking part is that nearly $8.6B of that open interest is now out of the money, with the majority consisting of bullish call options placed at much higher prices.
Bitcoin's drop below $60K has left those bets stranded, while the max pain level remains near $74K β far above where the market is trading today.
Unless BTC stages an extraordinary rally before expiry, billions of dollars in bullish contracts will simply expire worthless.
For option sellers, it's business as usual.
For overleveraged bulls, it could become one of the most expensive expiry events the crypto market has ever seen.
I still canβt believe there are real human beings who hated on Jeremy Doku for leaving the World Cup for a bit to attend the birth of his child
We all love football but some of you are INSANEπ
When Supply is locked for 10 years and a DAO is in creation...it really is a no brainer... don't let short term price action fool you here.
I've never crossed as much of a moral and ethical dev as @realjohnmonarch
I got beat on a previous project with someone who put papajohn56 name on it... John took note of holders and airdropped on a vesting schedule his new $ogdoge project.
Thank you for keeping your word @realjohnmonarch and for setting $ogdoge up to be as successful as possible from the ground up. This is a special project and I'm glad that it is being managed as such.