20,000 Bitcoin Options Expire Amid High Put/Call Ratio

On January 16, 2026, 20,000 Bitcoin options expired with a put/call ratio of 1.39, causing market interest due to $92,000 max pain level, stressing BTC volatility across exchanges.

These expirations highlight potential market shifts, underscoring volatile investor sentiment and implications for Bitcoin’s price due to significant open interest at key strike levels.

On January 16, 2026, 20,000 Bitcoin options expired, featuring a put/call ratio of 1.39 and max pain at $92,000. This data originated from Greeks.live, as shared through leading exchange platforms like Binance.

Adam, a Macro Researcher at Greeks.live, stated the options had a notional value of $2.3 billion. His findings circulated across major exchange channels, providing a detailed account of market behavior during the expiry.

The expiry impacted the cryptocurrency market significantly, drawing attention to high stakes among BTC and ETH investors. The event highlighted market sentiments, reflecting cautious positions as indicated by the put/call ratio.

Financial implications were notable, as BlackRock’s Bitcoin ETF recorded a $315.8 million inflow coinciding with Bitcoin’s price consolidation from $92,000 to $97,000, signaling institutional presence amid a volatile landscape.

The data underscored the high volume and interest in Bitcoin and Ethereum options, with a collective notional value of $2.7 billion, exceeding levels from previous weeks. This suggests a possibly evolving trading strategy focusing on prominent crypto assets.

Future implications might include enhanced institutional involvement, considering the significant capital flows. Historical trends suggest this may influence market patterns and regulatory discussions, as exchanges process high-value contract expiries.