BTC options skew bearish with 1.43 put-call ratio ahead of Oct. 16 expiry

The put-call ratio in Bitcoin options set to expire on Oct. 16 on Deribit, the world’s largest cryptocurrency options exchange, stood at about 1.43, indicating put open interest was roughly 43% higher than call open interest, CryptoSlate reported. As of Oct. 12, the total notional value of put options with strike prices between $76,000 and $80,000 was $451 million, accounting for about 35% of all options tied to that expiry. CryptoSlate said the concentration in put options suggests traders are concerned about additional selling pressure. The outlet added put open interest can include not only positions bought to hedge downside risk, but also positions sold to earn premium income.