Open Interest in Bitcoin Options on CME Hits An All-time High
Open interest for Bitcoin options on the Chicago Mercantile Exchange (CME) has reached an all-time high. In the last 24 hours, the open interest for CME Bitcoin futures contracts has reached nearly $2 billion.
This trend is also supported by Velo Data, which shows the open interest for CME Bitcoin futures reaching a record high of $2.1 billion.
An increase in open interest signifies a highly liquid market with a significant number of participants.
Open interest refers to the total number of options contracts that have yet to be exercised.
A rise in open interest suggests an increase in sophisticated trader activity, with new contracts being created and added to existing ones.
According to data from CoinGlass, the open interest for options on CME Bitcoin futures is currently skewed towards calls rather than puts, with 65% calls compared to 35% puts.
