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Bitcoin traders face Friday’s $2.7 billion options expiry with a dangerous five-hour blind spot

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Bitcoin traders face Friday’s $2.7 billion options expiry with a dangerous five-hour blind spot

Friday's contracts expire before the US jobs report, while hedging through the announcement costs about 74% more at the $80,000 put strike.

Bitcoin options worth approximately $2.7 billion expire Friday, five and a half hours before the US jobs report.

Data from Deribit shows 33,441 BTC in outstanding options contracts scheduled to expire at 08:00 UTC on Nov. 6, with the calculated maximum pain price sitting at $79,000.

The level is approximately 1.6% below Bitcoin's $80,280 current price, placing the expiry near the cryptocurrency's current trading range as investors prepare for another potential shift in US interest-rate expectations.

The contracts are heavily skewed toward bullish call options, which account for approximately 25,012 BTC in open interest, compared with 8,429 BTC in puts. That puts the put-to-call ratio at 0.34, with nearly three calls outstanding for every put.

The largest concentrations of call open interest sit at the $82,000 and $85,000 strike prices, while significant put positions are clustered between $72,000 and $75,000.

Deribit BTC call and put open interest for the Nov. 6, 2026 expiry. Approximate values digitized from a user-supplied Nov. 5 screenshot and rounded to 100 BTC. Very small or unreadable bars are missing (null), not zero; omitted strike labels also had no sufficiently legible bars. The screenshot marks $79,000 as max pain, not a price forecast. Intrinsic value is omitted because it uses a separate USD axis. Historical strike counts could not be checked independently.

Source: Deribit, BTC options open interest (user-supplied screenshot; estimates, Nov. 5, 2026) · XOOMAR, Deribit-based Nov.


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