Options open interest on the verge of breaking all-time high, calls for $30,000 Bitcoin

Definition

• The total amount of funds (USD Value) allocated in options contracts.

Quick Take

• Options open interest is on the verge of breaking an all-time high. Currently, 345,000 BTC ($8B) has been allocated to options contracts.
• The all-time high occurred during the collapse of FTX back in November.
• The recent surge in options contracts is fuelled by CME, which now has 14% of the market.
• While options open interest by Bitcoin strike price for the end of the first quarter is now being called at $30,000.

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