Bitcoin's $16 billion quarterly options settlement arrives with a 'call-heavy' book
Why now
Thesis: Call-heavy book leaves bitcoin exposed to expiry-driven swings
Catalyst to watch: Friday settlement and post-expiry dealer repositioning
Main risk: Call-heavy positioning can unwind sharply if price stalls
Why it matters
Large options expiry forces dealers to rebalance hedges, which can amplify or dampen short-term price swings around the settlement.
Details
Nearly $18 billion in bitcoin and ether options will expire on Friday, potentially reshaping dealer hedging flows and short-term volatility.
Sources
- coindesk · 2026-09-23 13:02 UTC