Futures Expiries
|
Weekly Expiries |
The (bi) weekly futures will have an initial lifetime of two weeks at the time of introduction and will expire every Friday at 08:00 AM UTC. A weekly expiry will not be added if it already exists as a quarterly expiry. |
|
Monthly Expiries |
The monthly futures will have an initial lifetime of two months at the time of introduction and will expire the last Friday of the month at 08:00 AM UTC. A new monthly expiry will be launched at every monthly expiry. For example, July futures will be launched at the end of May. A monthly expiry will not be added if it already exists as a quarterly expiry. |
|
Quarterly Expiries |
3, 6, 9 and 12 months quarterlies of the March, June, September and December cycle. Quarterly futures expire on the last Friday of each calendar quarter at 08:00 AM UTC. A new future with a new expiry will be added on the last Friday of each calendar quarter at 08:00 AM UTC. |
|
Futures |
BTC |
ETH |
USDC |
|
Expiries available |
1, 2 weeklies 1, 2, 3 monthlies 3, 6, 9 and 12-month quarterlies of the March, June, September and December cycle. |
1, 2, weeklies 1, 2, 3 monthlies 3, 6, 9 and 12-month quarterlies of the March, June, September and December cycle. |
One futures contract available for USDC currently (BTCDVOL), the others are perpetuals. A new DVOL future will be introduced one week before expiry of the existing one (Wednesday). |
Options Expiries
|
Options |
BTC |
ETH |
SOL, XRP |
BNB |
PAXG |
|
Expiries Available |
1, 2, 3 dailies 1, 2, 3 weeklies 1, 2, 3 monthlies 3, 6, 9 and 12-month quarterlies of the March, June, September and December cycle. |
1, 2, 3 dailies 1, 2, 3 weeklies 1, 2, 3 monthlies 3, 6, 9 and 12-month quarterlies of the March, June, September and December cycle. |
1, 2 dailies 1, 2 weeklies 1 monthly (The new monthly expiry will be introduced 22 days prior to the expiration of the existing monthly contract, so there will usually be 2 monthly expiries) 1 quarterly, introduced 1 month and 22 days prior to the expiration of the current quarter’s contract |
1, 2 dailies 1,2 weeklies 1 monthly, introduced 22 days prior to the expiration of the existing monthly contract |
1, 2 weeklies 1, 2 monthlies 1, 2 quarterlies |
|
Introduction Time |
With the exception of 24 hours following the introduction of a new expiry, two expiries of daily options, three expiries of weekly options, three expiries of monthly options, and four expiries of quarterly options will be available for trading for BTC and ETH. New weekly/monthly/quarterly option expiries are often introduced on Thursdays, resulting in 1 day where there are more expiries available than shown in the above table. Daily options expire every day at 08:00 UTC. Weekly options expire on each Friday of each week at 08:00 UTC. Monthly options expire on the last Friday of each calendar month at 08:00 UTC. Quarterly options expire on the last Friday of each calendar quarter at 08:00 UTC. |
Overlapping Expiries
If a particular expiry already exists from a higher timeframe, it will not be duplicated on the lower timeframes. For example, if a June quarterly expiry already exists and has an expiry date of the 28th of June, by the 27th of June, the same 28th of June quarterly expiry will also be serving as the closest monthly, weekly, and daily.
Dynamic Options Strike Intervals
|
Intervals The following tables are meant as a guide only. Deribit may alter the strike intervals for several reasons, including: recent volatility, the underlying price, liquidity, and user demand. |
Deribit introduces call options with a delta range of 0.1 to 0.9 and put options with a delta range of -0.1 to -0.9.The intervals are shown in the diagram below, however, they might deviate as the number of strikes required to reach the 0.1 delta level might differ. At introduction, Deribit shall make available the ATM strike and subsequent strikes above and below the ATM level with the intervals as shown in the table below. Depending on the price moves of the underlying instrument, Deribit may introduce additional new strikes. The series intervals offered by Deribit are based on the remaining lifetime till maturity. By definition, the intervals will be smaller for series with a shorter remaining lifetime compared to the series with a longer remaining lifetime. |
BTC Options Strike Policy - High Daily Moves
Indication of expected daily move > USD 1,000
|
Time to Expiry |
≤2 days |
≤2 weeks |
≤2 months |
≤6 months |
≤12 months |
|
ATM |
$500 |
$1,000 |
$2,000 |
$5,000 |
$10,000 |
|
Outer |
$2,000 |
$2,000 |
$5,000 |
$10,000 |
$20,000 |
|
Wings |
- |
$5,000 |
$10,000 |
$20,000 |
$50,000 |
BTC Options Strike Policy - Low Daily Moves
Indication of expected daily move < USD 1,000
|
Time to Expiry |
≤2 days |
≤2 weeks |
≤2 months |
≤6 months |
≤12 months |
|
ATM |
$100 |
$500 |
$1,000 |
$2,000 |
$5,000 |
|
Outer |
$200 |
$1,000 |
$2,000 |
$5,000 |
$10,000 |
|
Wings |
$500 |
$2,000 |
$5,000 |
$10,000 |
$20,000 |
ETH Options Strike Policy - High Daily Moves
Indication of expected daily move > USD 100
|
Time to Expiry |
≤2 days |
≤2 weeks |
≤2 months |
≤6 months |
≤12 months |
|
ATM |
$50 |
$50 |
$100 |
$200 |
$500 |
|
Outer |
$100 |
$100 |
$200 |
$500 |
$1,000 |
|
Wings |
- |
$200 |
$500 |
$1,000 |
$2,000 |
ETH Options Strike Policy - Low Daily Moves
Indication of expected daily move < USD 100
|
Time to Expiry |
≤2 days |
≤2 weeks |
≤2 months |
≤6 months |
≤12 months |
|
ATM |
$10 |
$50 |
$100 |
$100 |
$200 |
|
Outer |
$20 |
$100 |
$100 |
$200 |
$500 |
|
Wings |
$50 |
$100 |
$200 |
$500 |
$1,000 |
Linear Options Strike Policy
|
XRP |
SOL |
BNB |
||
|
≤2 days |
ATM |
0.005 |
1 |
5 |
|
≤2 days |
Outer |
0.01 |
2 |
10 |
|
≤2 weeks |
ATM |
0.01 |
2 |
10 |
|
≤2 weeks |
Outer |
0.02 |
5 |
20 |
|
≤2 weeks |
Wings |
0.05 |
10 |
40 |
|
≤6 months |
ATM |
0.02 |
5 |
20 |
|
≤6 months |
Outer |
0.05 |
10 |
40 |
|
≤6 months |
Wings |
0.1 |
20 |
100 |
Indication of Moneyness
ATM - around 40 to 60 Delta
Outer - around 20 to 40 Delta
Wings - <20 Delta
Deribit may modify the provisions governing the establishment of exercise prices as it deems fit.