Traders Bet Big On $90K Bitcoin As $18B Options Expire Friday

Published by

Anjali Belgaumkar

September 23, 2026

$2.2B Bitcoin & Ethereum Options Expiry Today Amid OI Hit 2022 Low

Bitcoin and Ethereum face a combined $18 billion options expiry this Friday, the largest single expiry of 2026. Bitcoin’s 184,000 contracts carry $15.9 billion in notional value, with max pain at $75,000, while calls dominate at $9.4 billion versus $6.5 billion in puts, crowded around $90,000 and $100,000 strikes. Ethereum’s 777,000 contracts total $2.1 billion notional, with max pain at $2,250. Calls lead there too, $1.32 billion versus $813 million in puts, spread across strikes from $3,000 to $4,000, signaling traders are heavily positioned for upside on both assets.

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