Data: BlackRock's Bitcoin spot ETF options launched trading this Tuesday, with a call/put ratio of 4.44 indicating that investors are generally bullish.
According to Deep Tide TechFlow, on November 20, data from SoSoValue shows that all options contracts for BlackRock's Bitcoin spot ETF (IBIT) traded a total of 354 thousand contracts this past Tuesday, with a nominal transaction value of 1.86 billion USD. As it was the first day of listing, this indicates extremely high market enthusiasm. The options also drove a 32% month-on-month increase in IBIT trading volume. Among all traded contracts, 288.70 thousand were call options and 65 thousand were put options, resulting in a call/put ratio of 4.44, reflecting an overall bullish market sentiment.
Data indicates that market trading was concentrated in bullish options expiring on January 17, 2024, within a price range of 55-60 USD. This corresponds to a price increase of 4.4% to 13.9% from Tuesday's closing price of IBIT. SoSoValue analysts noted, "This roughly corresponds to a Bitcoin price of 97 thousand to 105 thousand USD, indicating that the market expects Bitcoin to reach 100 thousand USD before Trump officially takes office." Notably, the implied volatility for January-expiring options is between 68% and 69%, compared to a historical volatility of IBIT at the 55% range over the past 60 days. The greater implied volatility than historical volatility suggests that investors prefer to hold options rather than sell them.
Additionally, Grayscale's spot Bitcoin ETF GBTC and $BTC options trading will also commence trading this Wednesday.
Data: BlackRock's Bitcoin spot ETF options launched trading this Tuesday, with a call/put ratio of 4.44 indicating that investors are generally bullish.
According to Deep Tide TechFlow, on November 20, data from SoSoValue shows that all options contracts for BlackRock's Bitcoin spot ETF (IBIT) traded a total of 354 thousand contracts this past Tuesday, with a nominal transaction value of 1.86 billion USD. As it was the first day of listing, this indicates extremely high market enthusiasm. The options also drove a 32% month-on-month increase in IBIT trading volume. Among all traded contracts, 288.70 thousand were call options and 65 thousand were put options, resulting in a call/put ratio of 4.44, reflecting an overall bullish market sentiment.
Data indicates that market trading was concentrated in bullish options expiring on January 17, 2024, within a price range of 55-60 USD. This corresponds to a price increase of 4.4% to 13.9% from Tuesday's closing price of IBIT. SoSoValue analysts noted, "This roughly corresponds to a Bitcoin price of 97 thousand to 105 thousand USD, indicating that the market expects Bitcoin to reach 100 thousand USD before Trump officially takes office." Notably, the implied volatility for January-expiring options is between 68% and 69%, compared to a historical volatility of IBIT at the 55% range over the past 60 days. The greater implied volatility than historical volatility suggests that investors prefer to hold options rather than sell them.
Additionally, Grayscale's spot Bitcoin ETF GBTC and BTC options trading will also commence trading this Wednesday.
