They call it “max pain” in the bitcoin options market: How to make one’s trading counterparty suffer the most.
Although the largest cryptocurrency was changing hands Wednesday around $56,500, traders were handicapping the odds of a plunge to about $44,000 by Friday, when a record $6 billion of options contracts is set to expire.
A drop to that price level would inflict “max pain” on buyers of options contracts, and it might be the most profitable price point for options sellers….
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