PANews reported on November 20 that according to SoSoValue data, all options contracts of BlackRock Bitcoin Spot ETF (IBIT) traded a total of 354,000 contracts on Tuesday, with a nominal transaction volume of US$1.86 billion. As the first day of listing, it shows that the market is very hot. Options also drove IBIT's trading volume to increase by 32% month-on-month. Among all the traded contracts, 288,700 were call options (Call) and 65,000 were put options (Put). The call/put ratio was 4.44, indicating that market sentiment is generally optimistic.
Data shows that market transactions are concentrated on long options expiring on January 17, 2024, with a price range of $55-60. Corresponding to a 4.4%-13.9% increase in IBIT's closing price on Tuesday, SoSoValue analysts said, "It roughly corresponds to a Bitcoin price of $97,000-105,000, indicating that the market expects Bitcoin to reach $100,000 before Trump's official inauguration." It is worth noting that the implied volatility of options expiring in January is 68%-69%, corresponding to the 60-day historical volatility of IBIT in the range of 55%. The implied volatility is greater than the historical volatility, indicating that investors prefer to hold options rather than sell them.
In addition, Grayscale's spot Bitcoin ETF GBTC and BTC options trading will also begin trading for the first time this Wednesday.
