A massive $4.7 – 4.8 billion in Bitcoin and Ethereum options contracts are set to expire this week, generating significant market attention on the Deribit exchange. This significant expiration represents a substantial influence on market volatility due to its scale, impact on put/call ratios, and potential implications for trader positioning amidst macroeconomic developments. Deribit’s dominance, handling over 80% of this volume, will further shape market dynamics as these contracts expire. The expiring options include $3.8 billion in Bitcoin and $950 million in Ethereum. With a significant focus on the largest crypto derivatives exchange, Deribit has assumed a crucial role in shaping trading strategies and influencing put/call ratios. This expiration could potentially lead to heightened market volatility due to trader repositioning. The potential impacts of these expiries are drawing attention from investors seeking insights into future pricing trends and hedging activities. Market participants closely monitor the expiry’s potential implications, anticipating possible shifts in trading patterns that might impact speculation and institutional decisions. Historical data suggests that significant expiration events often contribute to short-term price volatility. However, with only 8% of open interest being covered, the market may be better prepared for these shocks due to robust hedging strategies in place.