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Bitcoin Traders Can Now Bet on $40K Price With New Deribit Options

bitcoin-traders-can-now-bet-on-$40k-price-with-new-deribit-options

Crypto derivatives exchange Deribit has listed bitcoin options contracts that allow traders to bet on a potential price rally to $40,000 next year.

  • Options at a $40,000 strike price expiring in March 2021 and June 2021 went live on Deribit early on Friday, as noted by research firm Skew.
  • In effect, the new contracts will allow market participants to express a long-term bullish view on bitcoin.
  • They will appeal to traders expecting a price rally to above $40,000 on or before the above expiries.
  • Options are derivative contracts that give the buyer the right, but not the obligation, to buy (call) or sell (put) an underlying asset at a predetermined price on or before a specific date.
  • The new contracts come at a time when bullish expectations are high due to rising institutional participation and mainstream adoption.
  • So far today, Deribit, the world’s largest crypto options exchange by trading volume, hasn’t registered any activity for the $40,000 options.
  • Bitcoin is currently trading at $13,290, representing an 85% gain on a year-to-date basis.

https://www.coindesk.com/bitcoin-traders-can-now-bet-on-40k-price-with-new-deribit-options

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