$8.7 Billion in Crypto Options Set to Expire: A Guide to the Volatility Ahead

Around $8.7 billion in Bitcoin and Ethereum options expire on February 27, representing 20% of all open interest in major crypto options. Bitcoin makes up the lion's share, with $7.7 to $7.9 billion spread across 114,000 contracts, while Ethereum has $960 to $975 million from nearly 480,000 contracts. Traders are bracing for short-term volatility as market makers adjust their positions and hedges.