TLDR
ETH options on the dominant crypto venue expire today at 8:00 am (UTC), which is the settlement cut?off Deribit uses for expiring contracts per coverage of this weeks expiry.
- Most open interest is on Deribit, so its 8:00 am (UTC) timing effectively sets the markets expiry reference this week.
- Other venues can differ; check your exchanges notices if you trade elsewhere.
- Large expiries can briefly increase volatility as hedges unwind around settlement this weeks context.
Deep Dive
1. Exact Time
The key crypto options venue settles ETH option expiries at 8:00 am (UTC) today. Media guidance around the current expiry week explicitly cites this 8:00 am UTC mark for determining the outcome of the ETH options expiry this week.
If you are watching pin effects or waiting for hedges to decay, the inflection typically begins right after 8:00 am (UTC).
2. Venue Coverage
Deribit holds the majority of crypto options open interest, so its 8:00 am (UTC) process is the effective market standard for todays ETH expiry. Reporting for this week notes Deribit with the largest share of open interest in BTC and ETH options, making its expiry window the key reference for market impact this week.
If you trade on a different venue (for example, CME or a CEX), confirm that venues exact cutoff, but expect broader market dynamics to key off Deribits 8:00 am (UTC) settlement.
3. Why It Matters
Large expiries often drive short, noisy moves as dealers and funds unwind or roll hedges around settlement. This weeks coverage flags a record?scale BTC and ETH options expiry on Deribit, which can amplify post?expiry volatility as open interest resets and hedges decay context.
Watch for brief spread widening and whipsaws around and after 8:00 am (UTC). Liquidity can thin into the event, then normalize as positions roll to later maturities.
Conclusion
For practical purposes, ETH options expire today at 8:00 am (UTC) in the crypto market because Deribits settlement dominates activity. Expect hedging flows to fade after that time and price action to re?set as open interest rolls, with a short window of potentially elevated volatility around the cutoff.
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