Bitcoin Options Market Splits as $13.7 Billion Expiry Set for November 28

Bitcoin derivatives traders are positioning for opposing outcomes ahead of a major options expiry. One group is establishing downside hedges below $85,000, while another is accumulating longer-dated call options targeting $102,000–$105,000. Approximately $13.74 billion in BTC options contracts are scheduled to expire on November 28, representing one of the largest settlement events of the year. Open interest on Deribit has reached a record $43 billion.