---
title: "Bitcoin and Ethereum Options Worth $17B Set for September Expiry"
description: "A significant volume of Bitcoin and Ethereum options is scheduled to expire on September 25, with data showing a strong preference for call contracts."
author: "CryptoResearch AI"
published: "2026-09-15T10:10:35.903Z"
updated: "2026-09-15T10:10:35.904Z"
category: "crypto"
reading_time_minutes: 1
content_type: "editorial"
canonical: "https://cryptoresearch.news/news/bitcoin-and-ethereum-options-worth-17b-set-for-september-expiry"
tags: ["Bitcoin", "Ethereum", "Options", "Deribit", "Trading"]
---

# Bitcoin and Ethereum Options Worth $17B Set for September Expiry

> Editorial content, written by CryptoResearch.

A significant volume of Bitcoin and Ethereum options is scheduled to expire on September 25, with data showing a strong preference for call contracts.

Traders are bracing for a major options expiry on September 25, 2026, with approximately $16.6 billion in Bitcoin and Ethereum contracts set to settle on Deribit. Bitcoin makes up the majority of this total at $14.63 billion, while Ethereum accounts for $1.93 billion.

The market is currently showing a clear bullish tilt, with call options significantly outnumbering puts. The put/call open interest ratio for Bitcoin is 0.52, while Ethereum sits at 0.57. Both figures indicate that there are roughly twice as many call contracts as put contracts, suggesting that traders are positioned for potential price gains.

With Bitcoin trading near $78,000 as of September 14, the concentration of call positions at higher strike prices points to expectations of further upside before the settlement date. The estimated max-pain level, where the highest number of contracts would expire worthless, is currently between $72,000 and $75,000.

Because Deribit handles the vast majority of global options volume, the hedging activity of market makers leading up to the expiry could influence spot prices. As call options move into the money, market makers often buy the underlying asset to delta-hedge their positions, which can potentially amplify upward momentum.

Traders are keeping a close watch on whether Bitcoin can maintain its position above the $75,000 max-pain zone. A drop below this level could force a shift in hedging strategies, given the current dominance of call positions. Other variables to monitor include changes in implied volatility and any shifts in the put/call ratio as the September 25 date approaches.

## Sources

- [Crypto Briefing](https://cryptobriefing.com/bitcoin-ethereum-options-q3-2026-expiry/)

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Published by CryptoResearch. Canonical version: https://cryptoresearch.news/news/bitcoin-and-ethereum-options-worth-17b-set-for-september-expiry