Bitcoin Put Options Surge to 40% of Daily Volume; $2B in Bearish Spreads Deployed by End-May

BTC1.1%
According to Greeks.live, bearish put options accounted for nearly 40% of Bitcoin options volume today (May 20), with concentrated positioning in $75,000/$71,000 put spreads expiring late May. The aggregate notional value of these bearish spread positions reached approximately $2 billion. Traders are using the end-of-month period to establish defensive positions ahead of potential pullbacks.
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