🚨 **Boxing Day Bonanza: Record $27 Billion BTC & ETH Options Expire Today!** 🚨
Traders, brace yourselves! Today, December 26, marks the largest crypto options expiry in history on Deribit – over **$27 billion** in notional value rolling off, including ~$23.6B in Bitcoin options and ~$3.8B in Ethereum.
Key highlights:
- This "Boxing Day" event clears more than 50% of Deribit's total open interest.
- BTC max pain around $95K–$96K (current price ~$88,500–$89,000), with heavy call interest signaling bullish bias but price pinned below.
- ETH max pain near $3,000–$3,100 (current ~$2,950–$2,970).
- Implied volatility has cooled (DVOL ~45%), suggesting the expiry might pass orderly rather than chaotic.
Post-expiry, the removal of gamma hedging could unlock fresh volatility – many expect a potential upside breakout into 2026 as dealers unwind positions.
Holiday liquidity is thin, so watch for amplified moves. Risk management is key!
What’s your play – holding spot, trading futures, or sitting out? 👇
#OptionsExpiry #CryptoVolatility
