Deribit Exchange Reports $3B Bitcoin Options Expiry as Traders Eye Maximum Pain at $107K

Approximately 28,000 Bitcoin options contracts valued at $3 billion notional are expiring today, June 13, following last week''s event that caused minimal spot market disruption. Bitcoin prices have already dropped 7% in the past 24 hours, with a put/call ratio of 0.95 showing balanced positioning between bullish and bearish traders.

Data from Deribit indicates a maximum pain point at $107,000—$3,000 above current price levels—where most losses will be realized. Open interest remains heavily concentrated between $110,000 and $140,000 strike prices, with over $1.5 billion at each level, demonstrating traders'' continued bullish stance despite recent market volatility.

Simultaneously, $687 million worth of ethereum options are expiring, showing stronger upside momentum with a 1.20 put/call ratio. Derivatives analysts observe increasing polarization among traders, with some moving toward protective puts as bearish sentiment grows.