- Nearly $1 billion in Bitcoin options open interest is due to expire on June 26th.
- Bitcoin options open interest continues to rise prior to the expiry.
Bitcoin options open interest has seen a recent surge in attention as open interest reaches unprecedented levels. However, according to Skew, a cryptocurrency data analytics platform, over 100,000 Bitcoin worth of Bitcoin options open interest are due to expire in just ten days.
Open interest is calculated by the outstanding contracts at the end of the trading day. Unlike trading volume, open interest represents only outstanding contracts. Thus, open interest can help investors quantify interest in a particular asset.
Open Interest On The Rise
Despite the looming Bitcoin options open interest expiry, open interest has been rising over the last few months. According to Skew, Bitcoin options open interest in the last twenty-four hours has crossed over $1.5 billion.
Furthermore, Bitcoin options open interest on CME has soared in recent months. Open interest on the platform has risen from $136 million on May 15 to $363 million on June 15. This massive surge equates to a 160% increase in just a month
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