价值超过 140 亿美元的比特币期权今天到期，这是历史上最大的事件之一：这是加密货币投资者应该期待的

比特币（CRYPTO：BTC）期权历史上周五到期。发生了什么：根据领先的加密货币衍生品交易所 Deribit 的数据，比特币期权

Bitcoin (CRYPTO: BTC) options contracts, with nearly $14.38 billion in notional value expired at 3:00 a.m. ET on Friday, according to leading cryptocurrency derivatives exchange Deribit.

根据领先的加密货币衍生品交易所 Deribit 的数据，名义价值近 143.8 亿美元的比特币 (CRYPTO: BTC) 期权合约于美国东部时间周五凌晨 3:00 到期。

The derivatives exchange also noted that the price of Bitcoin at the time of the options expiry stood at $41,160.

该衍生品交易所还指出，期权到期时比特币的价格为 41,160 美元。

Bitcoin options contracts expiring on Deribit are a key event in the cryptocurrency markets, and the large size of the options expiring on Friday is a testament to the growing institutional interest in Bitcoin.

Deribit 上的比特币期权合约到期是加密货币市场的一个关键事件，周五到期的期权合约规模之大证明了机构对比特币的兴趣不断增长。

Options contracts give the buyer the right, but not the obligation, to buy (in the case of a call option) or sell (in the case of a put option) a specified amount of an underlying asset at a set price on or before a particular date.

期权合约赋予买方权利，但没有义务，在指定日期或之前以设定价格购买（如果是看涨期权）或出售（如果是看跌期权）指定数量的标的资产。特定日期。

In Deribit's case, the options contracts are European-style options, which can only be exercised on the last trading day.

就 Deribit 而言，期权合约是欧式期权，只能在最后一个交易日行使。

A ‘Max Pain' Theory

“最大痛苦”理论

Speaking to Benzinga earlier, Deribit CEO Luuk Strijers had flagged $84,000 as the "max pain" level for Bitcoin, hinting at Bitcoin’s potential drop to this level.

Deribit 首席执行官 Luuk Strijers 早些时候在接受 Benzinga 采访时表示，84,000 美元是比特币的“最大痛苦”水平，暗示比特币有可能跌至这一水平。

"For Bitcoin, the max pain is at $84,000. This means that the majority of traders will be losing money on their options contracts if the price of Bitcoin drops to this level," Strijers explained.

“对于比特币来说，最大的痛苦是 84,000 美元。这意味着，如果比特币的价格跌至这个水平，大多数交易者的期权合约都会亏损，”Strijers 解释道。

"However, it is important to note that this is just one theory and the actual price movement of Bitcoin may vary significantly."

“但是，值得注意的是，这只是一种理论，比特币的实际价格走势可能会有很大差异。”

What To Expect After Options Expiry

期权到期后会发生什么

Following the options expiry, the market could become choppy, according to Sean McNulty, director of trading at liquidity provider Arbelos Markets, who was quoted by Bloomberg.

彭博社援引流动性提供商 Arbelos Markets 交易总监肖恩·麦克纳尔蒂 (Sean McNulty) 的话说，期权到期后，市场可能会变得波动。

"We could see some choppiness in the market after the options expiry, especially if there are large movements in either direction," McNulty said.

麦克纳尔蒂表示：“期权到期后，我们可能会看到市场出现一些波动，特别是如果两个方向都出现大幅波动的话。”

"However, the overall trend in the market is still bullish, and we expect to see continued buying pressure from institutional investors."

“不过，市场整体趋势仍然看涨，我们预计机构投资者的买盘压力将会持续。”

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