BTC Seen as Safer Bet as $14.6B in Bitcoin and Ether Options Come Due

Traders Hedge BTC Ahead of $14.6B Options Expiry, ETH Stays Balanced

A massive $14.6 billion in BTC and ETH options will settle Friday on Deribit, with traders showing a clear bias toward protecting bitcoin downside.

Data from Deribit Metrics shows nearly $11.6 billion in BTC contracts set for expiry, with puts dominating around $108,000–$112,000. Calls cluster above $120,000, reflecting selective bullish bets.

ETH, meanwhile, skews more evenly: 393,534 call contracts versus 291,128 puts, with open interest at $3.03 billion. Strike activity is concentrated near $3,800–$4,000 on both sides.

“BTC expiry shows persistent demand for downside protection, while ETH remains neutral,” Deribit said. With Jackson Hole still in focus, this expiry could shape September’s tone for risk assets.