Bitcoin Options Daily Volume Crosses $1 Billion, $100K Strike Introduced for 2021

Cryptocurrency derivatives markets have been seeing significant demand, as daily volumes for bitcoin options crossed $1 billion on December 17, 2020. Most of the record turnover has been taking place on the derivatives platform Deribit, and a large $100k strike has been introduced on the exchange for September 2021.

While bitcoin (BTC) spot markets touched an all-time high (ATH) this year at $23,777 per coin, derivatives markets have been seeing lots of action as well. On Thursday, December 17, 2020, researchers from tweeted about the record BTC options volumes crossing $1 billion for the first time.

The aggregate total of $1 billion in bitcoin options daily volume stemmed from exchanges like Deribit, Okex,, CME Group, Ledgerx, Huobi, and Bakkt.

“Bitcoin options first $1bln day,” Skew tweeted on Thursday. Skew’s chart shows that Deribit leads the record turnover, followed by the derivatives markets on and Okex respectively.

Bitcoin Options Daily Volume Crosses $1 Billion, $100K Strike Introduced for 2021

Deribit’s market update sent to shows that open interest has also seen an all-time high. Thursday’s BTC options on Deribit clocked in at over 223,000 BTC or $5 billion. At the same time, there was $291 million in BTC futures, $228 million in perpetual swaps as well.

“We have seen a total turnover of USD 3.5 billion today (rolling 24 hrs),” Deribit said on Thursday. “We have seen a total turnover of USD 1.4 billion today (rolling 24 hrs).

Deribit also added:

[The exchange] gets a lot of demand for higher strikes and has just introduced a USD 100k strike for September ’21.

This means that derivatives traders leveraging Deribit can bet on BTC reaching $100k using the options contract. Deribit has said some trades have been executed since launching the contract on Thursday and the call and put options have an expiry date of September 24, 2021.

A number of contracts are also expiring on Christmas day, as Deribit says “80k contracts or USD 1.85 billion…

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