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Bitcoin ETF Options Attract Bullish Bets
IBIT options debuted with nearly $2B in notional volume
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IBIT options went live on Tuesday and attracted nearly $2 billion in notional trading volume.
What’s the Scoop?
- Bullish Sentiment: Call options were traded at a 4.4:1 ratio compared to puts, signaling strong bullish sentiment and a desire for BTC upside exposure.
- Unheard-of Volume: IBIT options debuted with nearly $2 billion in notional trading volume, analysts note that such high trading volume at launch is unprecedented for products like these.
Bankless Take:
As expected, IBIT options saw a massive trading activity on their debut. The 4.4:1 ratio of calls to puts reflects the overwhelmingly bullish market sentiment, driven in part by bitcoin hitting new all-time highs. It will be interesting to monitor this ratio throughout the year, as market conditions evolve.
UPDATE: Final tally of $IBIT's 1st day of options is just shy of $1.9 billion in notional exposure traded via 354k contracts. 289k were Calls & 65k were Puts. That's a ratio of 4.4:1. These options were almost certainly part of the move to the new #Bitcoin all time highs today pic.twitter.com/IN3s9hajJ2
— James Seyffart (@JSeyff) November 19, 2024