Bitcoin traders face Friday’s $2.7 billion options expiry with a dangerous five-hour blind spot
Summary
About $2.7 billion in Bitcoin options are set to expire on Deribit at 08:00 UTC on Nov. 6, five and a half hours before the US October jobs report. The contracts show a 0.34 put-to-call ratio, with major call positions at $82,000 and $85,000 and puts concentrated at $72,000–$75,000. Maximum pain is estimated at $79,000, below Bitcoin’s then-current price near $80,280, but this level does not predict where Bitcoin will settle. Because the options expire before payroll data is released, traders seeking protection through the announcement would need longer-dated contracts or other hedges, which cost more. The report could shift expectations for Federal Reserve policy and affect Bitcoin through interest rates, Treasury yields and the dollar.
