Over $1 Billion in Options Open Interest Tied to June 26 Expiry

Crypto options traders had more than $1 billion in open interest riding on a single expiry date, June 26, according to a recent episode of the Ledger Cast podcast. Hosts Brian Krogsgard and Josh Olszewicz devoted the episode to the contracts, alongside a broader look at market conditions and news in the ecosystem.

Open interest counts the options contracts that are still active, meaning they have not been closed out or exercised. When that number is large and clusters around one expiry, it can matter for prices. Traders who bought or sold around particular strike prices may adjust their positions as the date approaches, and the firms that wrote those options often hedge their own exposure, which can add buying or selling pressure in the spot market.

The episode is framed as education rather than investment advice. The hosts and the show notes do not break down the figures by strike price, venue, or asset, so readers who want those details will need to check the episode itself or exchange data directly.

Large expiries are a regular feature of crypto derivatives markets, and quarterly settlements tend to draw attention for exactly this reason. Anyone following the topic can use the June 26 example as a reminder to look at open interest by expiry date, not just total volume, when judging where positioning is concentrated.