Data: BlackRock Bitcoin spot ETF options were first traded on Tuesday, with a call/put ratio of 4.44, indicating that investors are generally bullish

According to SoSoValue data, all options contracts of BlackRock Bitcoin Spot ETF (IBIT) traded a total of 354,000 contracts on Tuesday, with a nominal transaction volume of US$1.86 billion. As the first day of listing, it shows that the market is very hot. Options also drove IBIT's trading volume to increase by 32% month-on-month. Among all the traded contracts, 288,700 were call options (Call) and 65,000 were put options (Put). The call/put ratio was 4.44, indicating that market sentiment was generally optimistic. Data shows that market transactions are concentrated on long options expiring on January 17, 2024, with a price range of US$55-60. Corresponding to the 4.4%-13.9% increase in IBIT's closing price on Tuesday, SoSoValue analysts said, "It roughly corresponds to a Bitcoin price of $97,000-105,000, indicating that the market expects Bitcoin to reach $100,000 before Trump officially takes office." It is worth noting that the implied volatility of the January expiration option is 68%-69%, corresponding to the 60-day historical volatility of IBIT in the 55% range. The implied volatility is greater than the historical volatility, indicating that investors prefer to hold options rather than sell options. In addition, Grayscale's spot Bitcoin ETF GBTC and BTC option trading will also start trading on Wednesday this week.