Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
CME Group to increase Bitcoin and Ether option expiration dates following unprecedented daily trading volume
On April 17, the derivatives marketplace Chicago Mercantile Exchange (CME) Group announced plans to expand its selection of cryptocurrency options by introducing new options for its standard and micro-sized Bitcoin (BTC) and Ether (ETH) contracts. Subject to regulatory approval, these new contracts are set to be available starting May 22, with expirations occurring every business day from Monday through Friday.
As per the announcement, CME Group’s enhanced range of cryptocurrency options will feature new expiration dates for Bitcoin and Ether futures contracts. These options will now expire daily from Monday to Friday, offering traders increased flexibility in managing short-term price risks. Additionally, options on micro-sized Bitcoin and Ether futures contracts will introduce Tuesday and Thursday expirations alongside the existing Monday, Wednesday, and Friday contracts. The newly introduced expirations will complement the current monthly and quarterly expirations already available for all Bitcoin and Ether options on futures contracts.
This initiative, according to CME Group, aims to provide market participants with enhanced accuracy and adaptability in managing short-term price risks for Bitcoin and Ether. This development also coincides with a period of increased market volatility within the digital asset space.
Related Posts
CME Group’s Bitcoin and Ether futures and options complex has already recorded a daily average notional exceeding $3 billion through the first quarter of 2023. This reflects a rise in client interest for liquid hedging instruments. The complex also achieved other trading milestones, including a record of 11,500 contracts and an average open interest of 24,094 contracts for Bitcoin futures and options in Q1 2023. Furthermore, CME Group’s Bitcoin and Ether futures and options have experienced a notable increase in trading volumes, with a record 2,357 Bitcoin options contracts traded on March 22, and a record open interest (OI) of 14,700 contracts on March 31.
Related: Bitcoin triggers liquidations as analyst suggests BTC price may decline an additional 12%
CME Group launched its first BTC futures contract in December 2017, followed by an ETH futures contract in February 2021. To meet the growing demand for cryptocurrency investment options, the exchange broadened its offerings in 2022 to include micro BTC and ETH futures. Additionally, it introduced euro-denominated BTC and ETH futures when the euro was trading at parity with the US dollar, which is currently valued at approximately $1 per euro at the time of this writing.
At the time of publication, the price of ETH stands at $2,085, while BTC is priced at $29,503, having dipped below its previous peak of $30,000.
Magazine: Toss in your job and make $300K working for a DAO? Here’s how
