RATE Group | Bitcoin Options Trading at CME Surged to New Highs in Halving Week
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Bitcoin Options Trading at CME Surged to New Highs in Halving Week

17 May Bitcoin Options Trading at CME Surged to New Highs in Halving Week

Posted at 08:55h in Bitcoin News by

Investor interest in bitcoin options listed on the Chicago Mercantile Exchange (CME) peaked to record highs in the days after the recent halving event. 

Bitcoin underwent its much-anticipated reward halving on Monday, at which point the reward per block mined was reduced from 12.5 to 6.25 BTC. 

On the same day, daily options trading volume on the CME jumped to $17 million, surpassing the lifetime high of $9.9 million set on May 6, according to data provided by crypto derivatives research firm Skew. Notably, volume has continued to grow ever since. 

skew_btc_options_volumes-12
Source: Skew

On Tuesday, the CME set a new record of $30 million, which was smashed on the following day with a total tally of $40 million. The exchange recorded volume of $36 million on Thursday, marking a 2,000% rise from the volume of $1.7 million registered a week ago. 

Volume refers to the number of contacts traded during a specific period. Options are derivative contracts that give the purchaser the right to buy or sell the…

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