Options open interest on the verge of breaking all-time high, calls for $30,000 Bitcoin

meaning

• The total amount of funds allocated to the option contract (USD value).

quick take

• Options open interest is about to hit an all-time high. Currently, 345,000 BTC ($8 billion) is allocated for option contracts.
• The all-time high came when FTX crashed in November.
• The recent surge in options contracts is underpinned by CME, which currently accounts for 14% of the market.
• The option open interest at the end of Q1 Bitcoin strike price is now called $30,000.

An open interest option that is about to set new all-time highs first appeared on CryptoSlate, demanding $30,000 in bitcoin.