Greeks.live: The $120,000 to $140,000 BTC call options remain the most concentrated contracts in open interest

ChainCatcher news, Greeks.live macro researcher Adam tweeted that the call options with a strike price of $120,000 to $140,000 remain the most concentrated contracts, with the $120,000 key level gathering the highest density of Bitcoin positions. Major participants are focusing on out-of-the-money call options and strike prices close to recent historical highs.

Since September, block trades have been unusually active, primarily concentrated in monthly and weekly contracts. Entering October, out-of-the-money options expiring in late October have begun to attract attention. In terms of market maker positions, positions below $120,000 are relatively scarce, and the overall market maker gamma level remains low, indicating limited impact from small price fluctuations. However, if Bitcoin falls below $110,000, market makers will need to increase short positions to reduce risk exposure; conversely, if new highs are reached, they will need to buy Bitcoin to hedge risk.