The post Bitcoin & Ethereum Brace for $15 Billion November Options Expiry appeared on BitcoinEthereumNews.com.

More than $16 billion in Bitcoin and Ethereum options are set to expire on October 31, 2025, at 8:00 UTC on Deribit. This marks one of the largest monthly crypto derivatives events of the year. This expiry surpasses last week’s $6 billion event due to the monthly rollover of October contracts. Traders and investors should closely watch max pain levels and positioning, both of which could impact short-term price action. Sponsored Bitcoin Options Market Shows Bullish Positioning Today’s expiring options are for the month, which makes them significantly higher than the $4 billion seen last week. Bitcoin is trading at $91,389 as of this writing, heading into expiry, while the maximum pain point sits at $100,000, suggesting the market is heavily skewed toward the upside despite recent turbulence. At this strike price, option holders will experience the most losses. Historically, Bitcoin’s price tends to move toward the max pain zone as expiry nears, a result of market makers hedging their positions. During this expiry, 145,482 contracts worth $13.28 billion will close. The put-to-call ratio is 0.54, signaling more traders are betting on gains than on losses. Nevertheless, Deribit data shows that the call open interest of 94,539 contracts exceeds put open interest at 50,943. Expiring Bitcoin Options. Source: Deribit According to analysts at Deribit, the recent market pullback played a critical role in shaping positioning. They say traders who were long puts took profit (TPd) when Bitcoin hit the $81,000 to $82,000. Sponsored “After a 35% plunge from $126,000, Put longs TPd vs $81,000-82k while still keeping cautious protection v long Spot BTC with 80-85k Strikes. But the dominant trade of the week was a bullish EoY Dec 100-106-112-118k Call Condor initially 12k, ~$6.5m premium, looking for a Santa rally,” wrote Deribit analysts. This large call condor, an options structure designed to capture upside…

---

Filed under: News - @ November 28, 2025 6:28 am