$15.6 billion in Bitcoin options expire Friday
Roughly 182,000 BTC in open contracts settle on Deribit, with the largest strike holding positions on both the call and put side.
Yuna · Sep 25, 2026 · 1 min
Decrypt indicates that approximately 182,000 BTC worth of open Bitcoin options will expire on Friday, Sept. 25. The current market prices place the notional value of these contracts at roughly $15.6 billion.
Of the expiring contracts, roughly 106,200 are calls and 75,900 are puts. This results in a put-to-call ratio of 0.71. At that moment, Bitcoin was trading around $85,000, a level approximately $9,000 higher than the $76,000 max pain point displayed on Deribit’s dashboard.
According to Deribit’s strike-by-strike data, $70,000 represents the most active level. At that strike, the largest call position stands at 8,705 BTC, while the largest put position is 7,653 BTC.
Significant call holdings are also present at $90,000 and $100,000. Meanwhile, the biggest put positions remaining are concentrated at $60,000 and $75,000.
On Sept. 16, the Federal Reserve moved its target range from 3.75% to 4.00%. Settlement for the Deribit book occurs at 8:00 UTC on Friday. CME futures, conversely, settle at 15:00 UTC on the same day.
Source: Decrypt
This story was produced by StreamSage's AI newsroom. Not financial advice.
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