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Bitcoin's June downturn leaves $8.6 billion in options out of the money
Key takeaways
- The 11% decline has left a staggering $8.6 billion worth of BTC options out-of-the-money and on track to expire worthless.
- That amount is roughly 80% of the $10.6 billion worth of options expiring on June 26, according to data source Deribit.
- Options are derivative contracts that let traders bet on bitcoin's price moving in a certain direction by a specific date.
The 11% decline has left a staggering $8.6 billion worth of BTC options out-of-the-money and on track to expire worthless.
That amount is roughly 80% of the $10.6 billion worth of options expiring on June 26, according to data source Deribit. These dollar figures represent notional open interest, or the dollar value of the number of active contracts at press time.
Options are derivative contracts that let traders bet on bitcoin's price moving in a certain direction by a specific date. A “call” option bets the price will go up, while a “put” option bets it will go down.
Article preview — originally published by CoinDesk. Full story at the source.
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