IBIT options pricing cools after Bitcoin rebound
IBIT options signal lower Bitcoin volatility as rebound cools near key levels See Saxo’s take on support, resistance and what traders may expect next
Options on BlackRock’s iShares Bitcoin Trust (IBIT) are reflecting smaller expected price swings after Bitcoin’s recent rebound, according to an analysis from Saxo Bank.
Saxo strategist Koen Hoorelbeke said IBIT’s implied volatility was 37.4% in data reviewed on Sept. 23, while realized volatility over the previous 20 trading sessions was 45.5%. He added that the implied volatility rank was 11.9, near the low end of its 12month range.
The analysis suggested resistance near $87,000 for Bitcoin, where the latest advance stalled on Sept. 21, and support between $76,000 and $77,000. Bitcoin was trading around $84,751 at the time of writing, according to CoinGecko.