Deribit has $2.1 billion in options expiring tomorrow: BTC's biggest pain point is $92,000

ForkMonger · 2026-01-22T11:18:09+00:00

Tomorrow at 16:00 (UTC+8), Deribit will have over $2.1 billion in crypto options expiring, including $1.81 billion in BTC options with a maximum pain point at $92,000, and $337 million in ETH options with a maximum pain point at $3,250. Market volatility will impact multiple options holders.

ForkMonger

2026-01-22 11:18:09

Abstract generation in progress

【Blockchain Rhythm】Tomorrow at 16:00 (UTC+8), over $2.1 billion in crypto options on Deribit are about to expire. This wave of market activity should not be underestimated.

On the BTC options side, the notional value reaches $1.81 billion, with a Put Call Ratio of 0.74, indicating relatively fewer bearish positions. The most critical point is the maximum pain at $92,000 — if this level holds, it could trigger liquidations for a large number of options holders.

ETH is also not immune, with a notional value of $337 million and a Put Call Ratio of 0.88. The maximum pain point is around $3,250. This suggests that upcoming market volatility could significantly impact many options traders’ positions.

BTC-1,03%

ETH-1,3%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

7 Likes

Reward
7
5
Repost
Share

Comment

0/400

GweiWatcher

· 4h ago

92000 this level is too absolute, it feels like the big players are just waiting here --- $2.1 billion options expiry, tomorrow will either surge or plummet, it’s impossible to pass smoothly --- With such a low put-call ratio, are all the bears dead? The atmosphere feels a bit strange --- Will there be a big gap caused by liquidation at 92000? It feels like something might go wrong --- ETH 3250 is just a little away from the current price, tomorrow might be a setup --- This market is so big, there will definitely be a fierce shakeout before expiry. Reducing positions early can ease the psychological pressure --- It’s said that the biggest pain point is 92000, so why aren’t the big players pushing up directly? Instead, there’s a strange calm --- The 16:00 timeline for tomorrow is noted, feels like something might happen --- Can the chain reaction from options liquidation really crash the spot market? I have some doubts --- Looking at this ratio, the bulls clearly have the advantage, but why do I still feel a bit anxious

View OriginalReply0

MysteriousZhang

· 4h ago

92,000 this level is incredible, feels like it will be repeatedly targeted --- So few short positions? Something's off --- Will ETH 3250 break? Feeling a bit anxious --- $2.1 billion liquidation feast, staying up all night tomorrow --- Waiting to see how this market will unfold --- Such a huge disparity in Put/Call ratio, feels like a trap --- Tomorrow is the key moment again, why am I so unlucky to keep running into this --- If 92,000 really holds, the entire market could explode --- Options traders will either celebrate or cry tomorrow --- These data look strangely comfortable, I always feel like a critical hit is waiting for me

View OriginalReply0

FrogInTheWell

· 4h ago

92000 this level is a bit fierce, if it really drops here, I’m afraid there will be casualties Tomorrow’s options liquidation show is coming, I bet 5 bucks someone will cry Put Call Ratio so low, are all the bears scared? $2.1 billion is sitting there, someone has to lose, right? Damn, this is why I don’t dare to play options, it’s too damn frustrating 92000, 3250, these numbers seem to be hinting at something... Waiting to see who goes bankrupt tomorrow, honestly a bit nervous Holding spot is the real king, options are really just tools to cut leeks

View OriginalReply0

UncleWhale

· 4h ago

92,000 is holding so tightly, it feels like someone is defending the market... Tomorrow's move looks very fierce, with a 2.1 billion liquidation trend... Will 92k break or not? Are all the gamblers ready? ETH 3250 didn't even break out, feeling like a double kill. Defending the market until tomorrow is considered a win, I am truly impressed.

View OriginalReply0

MevTears

· 4h ago

92000 this level is really a bit shaky, feels like we need to watch it carefully tomorrow 92,000 resistance is too high, how can there be so few people shorting... Damn, with 2.1 billion in options expiring, is this the legendary big cleanup? The Put-Call Ratio is so low, the market maker must be making a killing Should I go all-in and watch the show tomorrow? It's too risky The biggest pain point at 3250 ETH, feels like a trap set up What's going on? Why are there so few short positions? It's a bit suspicious Everyone stay put, we'll know who gets liquidated by 16:00 tomorrow Once 92000 is broken, the chain reaction will be intense Options traders will either take off tomorrow or say goodbye forever

View OriginalReply0