Deribit Adding Options to Allow Bitcoin Traders to Bet on Rally to $120K, $140K

A week ago last Thursday, Deribit made news by introducing call and put options at the $100,000 strike price.

AccessTimeIconDec 26, 2020 at 3:25 p.m. UTC
Updated Sep 14, 2021 at 10:48 a.m. UTC

The folks at Deribit apparently think betting on a $100,000 bitcoin (BTC) price is so earlier-this-month because on Friday, mere hours before the leading cryptocurrency hit $25,000 for the first time, the crypto derivatives exchange announced contracts on $120,000 BTC with $140,000 added on Saturday morning.

  • A week ago last Thursday, Deribit made waves in the cryptocurrency industry by introducing call and put options at the $100,000 strike price expiring on Sept. 24, 2021.
  • The purchase of a $100,000 call is a bet that bitcoin will rise above that level on or before Sept. 24, 2021, making the option “in-the-money.”
  • When those options went live, BTC was in the midst of a stunning run into uncharted territory past $20,000, setting a then-record high of $23,770 on the day those $100,000 options went live.
  • Since then, after a brief pause, BTC has resumed its rallying ways, hitting $25,000 for the first time late Christmas Day and at time of writing is trading at $25,716.52, up 6.11% in the last 24 hours.
  • It's not clear when these new calls and puts expire.

UPDATE (Dec. 26, 16:37 UTC): Adds information on $140,000 option.

Read more about


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.