Traders Bet Big On $90K Bitcoin As $18B Options Expire Friday

Bitcoin and Ethereum face a combined $18 billion options expiry this Friday, the largest single expiry of 2026. Bitcoin's 184,000 contracts carry $15.9 billion in notional value with max pain at $75,000, and calls dominate at $9.4 billion versus $6.5 billion in puts, crowded around $90,000 and $100,000 strikes. Ethereum's 777,000 contracts total $2.1 billion.