GreeksLive: 18,000 BTC Options Expire at $83K Strike

GreeksLive data shows 18,000 BTC options contracts expired on October 16 with a put-call ratio of 1, maximum strike at $83,000 and notional value of $1.47 billion, representing 4.5% of total Bitcoin options positions.

U.S. equities pulled back on weak macro data this week and crypto followed, leaving implied volatility at depressed levels where 35% now acts as a firm floor with buyers unwilling to pay up for protection despite the summer rally.

GEX has converged around the 90K strike while 80K puts have started accumulating gamma, suggesting dealers are repositioning after the recent decline.

Bitcoin trades at $82143.44 inside its Bollinger Bands on the 4-hour chart with the upper band at $84340.82 acting as immediate resistance and the lower band at $80673.97 providing short-term support; the EMA50 at $82867.59 and EMA200 at $82228.12 both sit above price and function as layered resistance in the prevailing bearish structure, while RSI at 46.51 remains neutral and the MACD golden cross at -288.87 hints at building momentum that has yet to overcome the overhead EMAs.