Traders on the bitcoin options market on crypto exchange Deribit seem to have a notable positive “gamma” exposure at the $90,000 and $100,000 strike options. This indicates that traders and investors have sold options at these levels, resulting in market makers being left with a significant number of long positions.
Gamma exposure refers to the sensitivity of an option’s delta to changes in the price of the underlying asset. A positive gamma exposure means that market makers are exposed to potential losses if the price of bitcoin rises above the $90,000 and $100,000 levels.
This dynamic in the options market can lead to increased volatility as market makers adjust their positions to hedge against potential losses. It also highlights the level of interest and activity in bitcoin options trading, with traders taking positions at key price levels.
Overall, the positive gamma exposure at the $90,000 and $100,000 strike options on Deribit suggests that there is significant anticipation and positioning for potential price movements in the near future.
