Bitcoin Options Launch Imminent as CME Open Interest Hits 7-Month High
William Suberg's original article for cointelegraph.com reduced by 80%
Bitcoin futures traders generated at least $20 billion in daily volume last week as two new options products prepared to hit the market. According to data released by futures provider CME Group on Jan. 9, its futures contracts alone saw open interest almost 70% higher than at the end of 2019."Serious" volume precedes options debut.
As Cointelegraph reported, interest has surged in the run-up to CME releasing its Bitcoin futures options. On Saturday Bitcoin derivatives exchange FTX quietly rolled out its own Bitcoin options product. According to aggregate volume data for Bitcoin futures products by analyst Skew Markets, global futures trading volume crossed the $20 billion mark on Jan.
8 alone. Options traders bet on $12K BTC. Skew added that its figures were not exhaustive, suggesting the actual total may be slightly higher.
Currently, exchanges Huobi and OKEx dominate in terms of volume, along with market stalwart BitMEX. FTX meanwhile is seeing calls for Bitcoin trading at $12,000 one month after its block reward halving in May. The calls are priced at $430.
In other words, for every $430 above the $12,000 threshold, investor returns double.
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CN [too long; didn’t read]
Summarised crypto news.