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Deribit Bitcoin Options Expiry Sees Max Pain Calculated at $83,000

Approximately 18,029 Bitcoin options contracts valued at $1.45 billion are set to expire on Deribit on Friday.

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A total of 18,029 Bitcoin options contracts with a notional value of roughly $1.45 billion are set to expire on the Deribit exchange on Friday, October 16. Deribit data from October 15 shows open interest comprising 10,410 put options and 7,619 call options.

The calculated "max pain" level—the strike price at which the aggregate value of expiring options is lowest for buyers—sits at $83,000. On Thursday afternoon, Bitcoin traded at $80,771, down 2.46% over 24 hours and 35.9% below its all-time high of $126,080 recorded on October 6, 2025.

The article clarifies that Friday's expiry represents a smaller weekly event compared to the upcoming end-of-month expiry on October 30, which holds 148,348 contracts. It also emphasizes that the max pain calculation reflects options market positioning rather than a definitive price forecast.

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