Deribit Exchange Sees $1.6B Ethereum Options Expiry as ETH Tests $2,750 Resistance

Ether traders are preparing for potential volatility as $1.64 billion in options contracts approach expiration on Deribit exchange, with 95% of put options at risk of expiring worthless. The second-largest cryptocurrency currently trades near $2,640, facing strong resistance at the $2,750 level that has repeatedly limited upward movement.

Deribit’s ethereum open interest surged 130% in May to a record $6.3 billion, indicating growing institutional participation. The $3,000 strike price dominates positioning, revealing bullish sentiment among professional investors despite recent market pressures.

Today’s expiry shows call options totaling $897.8 million versus $746.6 million in puts. Technical analysis presents mixed signals, with the $2,700 level emerging as critical for short-term traders. Market makers expect heightened volatility as gamma exposure rebalances post-settlement.