Options/OPEX: $10.6B quarterly crypto expiry, Cboe binary options launch, Bitget launches US stock options, weekly income strategies active; 0DTE hits record 48% of retail volume; BTC options cap at $66K; call-heavy before July 8 FOMC
Key Questions
What is the $10.6B quarterly crypto options expiry?
Friday's expiry totals $10.6B ($7.5B BTC, $2.2B ETH) on Deribit with a put-to-call ratio of 0.8 and 37% of open interest expiring. A condor structure caps BTC at $66K-$68K.
How are BTC options positioned ahead of the July 8 FOMC minutes?
Options have turned call-heavy with max pain at $63K. This suggests fading downside protection and a defensive stance without forced deleveraging.
What new options products were recently launched?
Cboe introduced regulated binary options on XSP. Bitget launched the crypto industry's first US stock options trading for eligible users.
What record did 0DTE options reach?
0DTE options hit 48% of total retail options volume, with SPX concentration at 59-65%. This increases path dependency risk for short-term traders.
What options strategies are currently active?
Weekly income strategies remain popular alongside new theta plays via IWM/QQQ/SPY 0DTE ETFs. Calendar spreads are used to hedge Vega on short verticals.
What does the YBIT distribution cut indicate?
The cut signals premium compression in the options market amid Bitcoin's summer price action and macro overhang from hot PCE data.
Where can traders find educational resources on options?
Bybit offers a dedicated options trading guide. Additional resources cover risk management techniques such as spread widening protection during news events.
What recent regulatory updates affect options and crypto trading?
ESMA reaffirmed its binary options stance in the EU while ASIC warned on crypto perps. cTrader has exited US prop trading.
Friday $10.6B quarterly crypto options expiry (BTC $7.5B, ETH $2.2B) on Deribit with put-to-call ratio 0.8, 37% OI expiring. Options market defensive but not forced deleveraging. BTC options condor caps $66K-$68K. BTC options turned call-heavy before July 8 FOMC minutes, small expiry with max pain at $63K—Glassnode sees fading downside protection. Cboe launches regulated binary options on XSP. Bitget launched crypto industry's first US stock options trading. YBIT weekly distribution cut signals premium compression. New options/theta strategies via IWM/QQQ/SPY 0DTE ETFs. NVDA options trade example and microcap options flow squeeze signals. Hot PCE and Strategy legal pressure add macro overhang. Bear call spread on MSTR offers risk-defined short-term trade. Risk management resources: calendar spreads to hedge Vega on short verticals, spread widening protection during news events. Educational resources: Bybit options trading guide. Regulatory: ESMA reaffirms binary options stance in EU; ASIC warns on crypto perps; cTrader exits US prop trading. 0DTE options hit record 48% of retail volume—SPX 59-65% concentration, path dependency risk critical for short-term traders. New: Option pinning mechanics updated with SEC's elimination of PDT rule and 0DTE options making pinning more exploitable for retail traders—actionable for weekly expiry plays. Also: short SPY call credit spread trade update from Greg M with clear entry/exit rules.