₱1.02 trillion ($17 billion) crypto options expire Friday as Iran deadline hits
Deribit will see ₱1.02 trillion ($17 billion) in digital asset options expire Friday, the same day Trump's diplomatic window with Iran closes. The timing creates a volatility setup as Bitcoin has climbed 8% since US and Israel strikes on February 28.
Key Takeaway
Trump's Iran deadline and $17 billion options expiry hit the same day, setting up Friday volatility.
Deribit Chief Commercial Officer Jean-David Pequignot warned that Bitcoin's surge toward $71,000 and Friday's massive options expiry are both tied to the same five-day diplomatic window Trump gave Iran.
The crypto derivatives platform will see ₱1.02 trillion ($17 billion) in digital asset options expire on Friday, with Bitcoin options accounting for ₱871.74 billion ($14.5 billion) of that total. ZeroStack CEO Daniel Reis-Faria said the expiry is large enough to influence spot prices.
Trump postponed his threat to bomb Iran's power grid on Tuesday after claiming productive talks with Iranian officials. The Iranian government denied any talks took place. Bitcoin added nearly 1% on Thursday as traders positioned ahead of the options expiry.
Pequignot said the Iran war is playing a part in Friday's option expiry dynamics, noting that Trump's diplomatic window expires almost perfectly in tandem with the options expiry, exacerbating a localized volatility kink in the term structure.
Deribit controls over 85% of the market share for Bitcoin and Ethereum options, with roughly $60 billion in current platform open interest. Coinbase acquired Deribit in August 2025.
This article was written based on reporting from Dlnews.
