Topic: $4.55B worth of BTC & ETH options set to expire today. Correction most likely? (Read 107 times)
October 30, 2023, 03:29:22 AM
and as usual, nothing happened. it is amazing that bitcoin options expire every month, every month there is FUD related to this (it is completely unknown why FUD and not FOMO, because options are traded in two directions) and every month nothing happens and yet next month again the same. Articles and threads like this one are popping up again.
October 28, 2023, 06:02:37 PM
What can happen is some attempt to pin the price where it makes sense for people with alot of options to try and buy or sell in the market to make an option or trade setup expire in the money. Happens with all commodities traded, someone was saying Gold was pinned to $1900 and hence became bullish but with the same idea that this was only a short term trade due to speculators wanting to make that profit for that deadline.
Im sure there is a entry explaining this somewhere better then I can, this might be better: https://www.investopedia.com/terms/p/pinningthestrike.asp
I always rate the longer term dynamics over trade dynamics, sometimes there is a confluence of factors and both run together with traders backing a trend that was set to occur anyway. Gold was never really that negative imo, similarly BTC its already slayed its demons with lower prices less likely after being already dealt with but thats just my take.
Im sure there is a entry explaining this somewhere better then I can, this might be better: https://www.investopedia.com/terms/p/pinningthestrike.asp
I always rate the longer term dynamics over trade dynamics, sometimes there is a confluence of factors and both run together with traders backing a trend that was set to occur anyway. Gold was never really that negative imo, similarly BTC its already slayed its demons with lower prices less likely after being already dealt with but thats just my take.
October 28, 2023, 08:44:21 AM
So, Friday is gone, options expired...price was...flat!
And when talking about flat, Friday was one of the quietest days recently, one tiny 1% fluctuation, a small dump that was recouped in less than 24 hours, and now we're complete, like complete flat, for 8 hours less than 0.2% up or down!
99% of the ones following that account don't!
You can check the replies, everyone is asking what that means, it is good it is bad
But this is the trend, you don't write the news, you make the news, and sometimes you use non-news to make news!
And when talking about flat, Friday was one of the quietest days recently, one tiny 1% fluctuation, a small dump that was recouped in less than 24 hours, and now we're complete, like complete flat, for 8 hours less than 0.2% up or down!
I agree, these type of numbers do not mean anything at all. It all looks like "what if 4.5 billion dollars btc and eth is sold to the market!!!" And we all know that's not what this means.
99% of the ones following that account don't!
You can check the replies, everyone is asking what that means, it is good it is bad
But this is the trend, you don't write the news, you make the news, and sometimes you use non-news to make news!
October 27, 2023, 11:56:32 PM
Yeah I keep hearing about this and it pretty never is a good indicator of anything. You need to understand that if someone buys a far away option such as $100,000 BTC Call for like $50. The nominal value is for the price of BTC which is $34K and not the $50. So you can see why the numbers are always huge.
Same with that Big Short guy entering a short last month. It was in the Billions but since it nominal value it was maybe a few million worth that he is actually risking. And it turns out how short would of worked out since the markets globally are tanking.
Same with that Big Short guy entering a short last month. It was in the Billions but since it nominal value it was maybe a few million worth that he is actually risking. And it turns out how short would of worked out since the markets globally are tanking.
October 27, 2023, 11:34:35 AM
I agree, these type of numbers do not mean anything at all. It all looks like "what if 4.5 billion dollars btc and eth is sold to the market!!!" And we all know that's not what this means. It could very well be covered by all the short too, and its not going to mean anything in the end. I am not saying we can't have a correction, don't get me wrong, that could very well happen. I am just saying that we do not need news like this to make it go down, and that's why its quite alright and shouldn't really be the main reason for it to drop, there could be a million other reasons why it would drop and I think that we are going to end up with something quite different in the end.
October 27, 2023, 10:29:24 AM
Any thoughts and insights about this one guys?
Yeah, big numbers that don't actually mean a thing, the same re-heated story over and over with the same sensationalistic headlines:
June 26
Crypto Traders Eye $6.8B Bitcoin and Ether Options Expiry
August 24
Bitcoin, Ether Trade Below 'Maximum Pain' Levels Ahead of $2.7B Options Settlement
September 26
Crypto Traders Brace for Nearly $5B Bitcoin and Ether Options Expiry
This date has a habit of not delivering a thing but still keeping people glued to their screens just to see something moving one way or another.
But in reality, it's an event everyone knows and has priced in already that it won't be a surprise at all.
October 27, 2023, 10:13:47 AM
Source: https://twitter.com/WatcherGuru/status/1717862209194234039
Just saw this X post being shared by one of my crypto colleagues in our community group chat.
Could this be a signal for a gradual correction and possibly erasing the gains we have ever since that IBTC ticker was listed in the DTCC?
He even considering about shorting his BTC position due to this recent development given that the numbers are huge for BTC and ETH options that is set to expire by today.
You think the bears would finally have the edge of this recent news? Or will the bulls gonna hang on and maintain in having a key strong support level?
Any thoughts and insights about this one guys? Thanks!
Just saw this X post being shared by one of my crypto colleagues in our community group chat.
Could this be a signal for a gradual correction and possibly erasing the gains we have ever since that IBTC ticker was listed in the DTCC?
He even considering about shorting his BTC position due to this recent development given that the numbers are huge for BTC and ETH options that is set to expire by today.
You think the bears would finally have the edge of this recent news? Or will the bulls gonna hang on and maintain in having a key strong support level?
Any thoughts and insights about this one guys? Thanks!
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