BlackRock’s IBIT BTC options launch was a success, but how realistic are traders' high six-figure Bitcoin price expectations?
Options on BlackRock's iShares Bitcoin Trust ETF (IBIT) made waves on Nov. 19, when its newly launched market recorded $1.9 billion in trading volume. On X, a handful of analysts deemed the launch a success, after the day wrapped up with a startling imbalance in the contracts.
There were 288,740 call (buy) options compared to the 64,970 put (sell) instruments, or a staggering 4.4-to-1 ratio.
On the surface, this suggests overwhelming bullish sentiment, with some contracts implying Bitcoin (BTC) prices above $170,000. But is this optimism warranted, or are these trades more complex than they appear?
