{"id":518,"date":"2025-12-20T07:07:51","date_gmt":"2025-12-20T07:07:51","guid":{"rendered":"https:\/\/bitpress.kr\/?p=518"},"modified":"2025-12-22T12:17:59","modified_gmt":"2025-12-22T12:17:59","slug":"how-options-expiry-affects-crypto-prices","status":"publish","type":"post","link":"https:\/\/bitpress.kr\/en\/how-options-expiry-affects-crypto-prices\/","title":{"rendered":"How options expiry moves crypto prices, explained simply"},"content":{"rendered":"<p class=\"wp-block-paragraph\">If you follow crypto news,<br>you often see phrases like \"options expiry\" or \"billions of dollars in options about to expire.\"<br>But many investors think:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">\"Options are expiring... so why does that move the price?\"<\/p>\n<\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">Let's go through the essentials step by step.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">1. An option is a \"promise about a future price\"<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Put simply, an option is<br><strong>the right to buy or sell in the future at a price set in advance<\/strong>.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Call: the right to <strong>buy later<\/strong><\/li>\n\n\n\n<li>Put: the right to <strong>sell later<\/strong><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Every one of these options has <strong>an expiration date<\/strong>set in advance,<br>and on that date <strong>its value is either locked in or disappears.<\/strong><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">2. The closer expiry gets, the more \"price-sensitive\" options become<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">An option has room to breathe while time remains,<br>but as expiry approaches it becomes <strong>extremely sensitive to price moves<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The key point here:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>the interests of those who <strong>bought options<\/strong>and<\/li>\n\n\n\n<li>the interests of those who <strong>and those who sold them (large traders, market makers)<\/strong><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">are <strong>exactly opposite<\/strong>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">3. Big players want the price to stay in a certain range<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The side that sold options in bulk (mostly institutions and market makers)<br>prefers, whenever possible, <strong>a price at which the options expire worthless<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So right before expiry:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>If the price rises too far \u2192 selling pressure<\/li>\n\n\n\n<li>If the price falls too far \u2192 defensive buying<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">both show up at the same time,<br>and **the price often gets \"pinned\" to a certain range**.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This is commonly described as<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">\"the price is being held down\" or \"it won't move\"<br>.<\/p>\n<\/blockquote>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">4. So the market can actually go quiet before expiry<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Many people<br>assume \"big options expiry = big volatility,\"<br>but in real markets the opposite often happens.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Before <strong>expiry<\/strong>:<br>\u2192 the price moves within a narrow range<\/li>\n\n\n\n<li>Before <strong>and since then<\/strong>:<br>\u2192 the pent-up energy is released and a direction emerges<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">In other words,<br><strong>The \"quiet\" before options expiry is not strange; it is structural<\/strong>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">5. Why the move comes after expiry<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Once the expiration date passes:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>the option positions disappear,<\/li>\n\n\n\n<li>buying and selling for hedging and adjustment shrinks,<\/li>\n\n\n\n<li>and the market goes back to moving on <strong>natural supply and demand<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">That is why traders often say:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">\"The real direction shows up after options expiry.\"<\/p>\n<\/blockquote>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">6. One thing beginner investors must remember<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The most common misunderstanding in options expiry news is this:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u274c \"There will always be a big swing on expiry day\"<br>\u274c \"If the options are large, a direction appears right away\"<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Reality is simpler.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Before expiry \u2192 the price may get pinned<\/li>\n\n\n\n<li>After expiry \u2192 the door opens to <strong>Likelihood<\/strong>bigger volatility<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>It is a possibility, not a certainty.<\/strong><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">In summary<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Here is how options expiry affects prices:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>An option is a contract on a future price<\/li>\n\n\n\n<li>Before expiry, the price tends to get pinned to a certain range<\/li>\n\n\n\n<li>Only after expiry does real supply and demand show<\/li>\n<\/ol>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">BITPRESS one-line summary<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\"Options expiry is not the day that creates a direction; it is the trigger that releases one.\"<\/strong><\/p>","protected":false},"excerpt":{"rendered":"<p>\uc554\ud638\ud654\ud3d0 \ub274\uc2a4\ub97c \ubcf4\ub2e4 \ubcf4\uba74\u201c\uc635\uc158 \ub9cc\uae30\u201d, \u201c\uc218\uc2ed\uc5b5 \ub2ec\ub7ec \uaddc\ubaa8 \uc635\uc158 \ub9cc\uae30 \uc784\ubc15\u201d\uc774\ub77c\ub294 \ud45c\ud604\uc774 \uc790\uc8fc \ub4f1\uc7a5\ud569\ub2c8\ub2e4.\uadf8\ub7f0\ub370 \ub9ce\uc740 \ud22c\uc790\uc790\ub4e4\uc774 \uc774\ub807\uac8c \ub290\ub08d\ub2c8\ub2e4. \u201c\uc635\uc158 \ub9cc\uae30\ub77c\ub294\ub370\u2026 \uadf8\ub798\uc11c \uac00\uaca9\uc774 \uc65c \uc6c0\uc9c1\uc774\ub294 \uac74\ub370?\u201d \ud575\uc2ec\ub9cc \ucc28\uadfc\ucc28\uadfc \uc815\ub9ac\ud574\ubcf4\uaca0\uc2b5\ub2c8\ub2e4. 1. \uc635\uc158\uc740 \u2018\ubbf8\ub798 \uac00\uaca9\uc5d0 \ub300\ud55c \uc57d\uc18d\u2019\uc785\ub2c8\ub2e4 \uc635\uc158\uc740 \uac04\ub2e8\ud788 \ub9d0\ud574\ubbf8\ub9ac \uc815\ud574\uc9c4 \uac00\uaca9\uc5d0, \ubbf8\ub798\uc5d0 \uc0ac\uace0\ud314 \uc218 \uc788\ub294 \uad8c\ub9ac\uc785\ub2c8\ub2e4. \uc774 \uc635\uc158\ub4e4\uc740 \ubaa8\ub450 \ub9cc\uae30\uc77c\uc774 \uc815\ud574\uc838 \uc788\uace0,\uadf8 \ub0a0\uc9dc\uac00 \ub418\uba74 \uac00\uce58\uac00 \ud655\uc815\ub418\uac70\ub098 \uc0ac\ub77c\uc9d1\ub2c8\ub2e4. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":520,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"bitpress_en_title":"","bitpress_en_desc":"","footnotes":""},"categories":[1],"tags":[65,66,68,62,63,67,64],"class_list":["post-518","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-65","tag-66","tag-68","tag-62","tag-63","tag-67","tag-64"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>\uc635\uc158 \ub9cc\uae30\uac00 \ucf54\uc778 \uac00\uaca9\uc5d0 \uc601\ud5a5\uc744 \uc8fc\ub294 \uad6c\uc870 \uc27d\uac8c \uc124\uba85 - BITPRESS : \ube44\ud2b8\ud504\ub808\uc2a4 - \ud22c\uc790\u00b7\ucf54\uc778\u00b7\uc8fc\uc2dd \uc2dc\uc7a5\uc744 \uc77d\ub294 \ub274\uc2a4<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bitpress.kr\/en\/how-options-expiry-affects-crypto-prices\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\uc635\uc158 \ub9cc\uae30\uac00 \ucf54\uc778 \uac00\uaca9\uc5d0 \uc601\ud5a5\uc744 \uc8fc\ub294 \uad6c\uc870 \uc27d\uac8c \uc124\uba85 - BITPRESS : \ube44\ud2b8\ud504\ub808\uc2a4 - \ud22c\uc790\u00b7\ucf54\uc778\u00b7\uc8fc\uc2dd \uc2dc\uc7a5\uc744 \uc77d\ub294 \ub274\uc2a4\" \/>\n<meta property=\"og:description\" content=\"\uc554\ud638\ud654\ud3d0 \ub274\uc2a4\ub97c \ubcf4\ub2e4 \ubcf4\uba74\u201c\uc635\uc158 \ub9cc\uae30\u201d, \u201c\uc218\uc2ed\uc5b5 \ub2ec\ub7ec \uaddc\ubaa8 \uc635\uc158 \ub9cc\uae30 \uc784\ubc15\u201d\uc774\ub77c\ub294 \ud45c\ud604\uc774 \uc790\uc8fc \ub4f1\uc7a5\ud569\ub2c8\ub2e4.\uadf8\ub7f0\ub370 \ub9ce\uc740 \ud22c\uc790\uc790\ub4e4\uc774 \uc774\ub807\uac8c \ub290\ub08d\ub2c8\ub2e4. \u201c\uc635\uc158 \ub9cc\uae30\ub77c\ub294\ub370\u2026 \uadf8\ub798\uc11c \uac00\uaca9\uc774 \uc65c \uc6c0\uc9c1\uc774\ub294 \uac74\ub370?\u201d \ud575\uc2ec\ub9cc \ucc28\uadfc\ucc28\uadfc \uc815\ub9ac\ud574\ubcf4\uaca0\uc2b5\ub2c8\ub2e4. 1. \uc635\uc158\uc740 \u2018\ubbf8\ub798 \uac00\uaca9\uc5d0 \ub300\ud55c \uc57d\uc18d\u2019\uc785\ub2c8\ub2e4 \uc635\uc158\uc740 \uac04\ub2e8\ud788 \ub9d0\ud574\ubbf8\ub9ac \uc815\ud574\uc9c4 \uac00\uaca9\uc5d0, \ubbf8\ub798\uc5d0 \uc0ac\uace0\ud314 \uc218 \uc788\ub294 \uad8c\ub9ac\uc785\ub2c8\ub2e4. \uc774 \uc635\uc158\ub4e4\uc740 \ubaa8\ub450 \ub9cc\uae30\uc77c\uc774 \uc815\ud574\uc838 \uc788\uace0,\uadf8 \ub0a0\uc9dc\uac00 \ub418\uba74 \uac00\uce58\uac00 \ud655\uc815\ub418\uac70\ub098 \uc0ac\ub77c\uc9d1\ub2c8\ub2e4. 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