On May 29, approximately $6.25 billion in Bitcoin options will expire.

On May 21, according to CoinDesk, Deribit will see approximately $6.25 billion in Bitcoin options expire on May 29, involving a total of 80,535 contracts. The current Bitcoin price is around $77,250, with the "maximum pain price" at $75,000, about 3% below the current price, corresponding to the largest range for short seller profits. This price point is also where put options are concentrated, with a notional value of approximately $394 million. For call options, the $80,000 strike price has the largest open interest, with a notional value of about $532 million. The overall put/call ratio is 0.86, indicating a mild bullish sentiment in the market. Meanwhile, the 29MAY26 $82,000 call option was the most actively traded contract of the day, with approximately 1,600 contracts (about $126 million) traded, suggesting some traders are betting on Bitcoin breaking above $82,000. Deribit's total open interest in Bitcoin options has risen to $31.3 billion, surpassing the $27 billion size of BlackRock's Bitcoin spot ETF IBIT.