A surge of interest in the $300,000 Bitcoin call option set to expire on June 26, 2025, has captured the attention of traders who are anticipating a major price rally for the cryptocurrency. The option, which allows buyers to purchase Bitcoin at $300,000, has become one of the most talked-about contracts for the upcoming expiry, reflecting growing speculation that Bitcoin could experience a significant rise in the coming months.
The June $300K call option currently boasts more than 5,000 contracts in open interest, representing a notional value of approximately $484 million. This surge in volume underscores the optimism among traders that Bitcoin could hit this ambitious target before the expiration date, despite the option being considered out-of-the-money (OTM) given Bitcoin’s current price.
A call option gives the buyer the right, but not the obligation, to purchase Bitcoin at a specified price—in this case, $300,000—by the expiration date. While the price target is far higher than Bitcoin’s current level, the low cost of these OTM options makes them an attractive speculative bet for traders looking for outsized returns if the market moves in their favor.
Spencer Hallarn, a derivatives expert at GSR, explained that the growing demand for such speculative contracts is indicative of traders positioning themselves for a potential market shift. “With Bitcoin’s fundamentals strong and institutional investors taking more interest in the asset, traders are increasingly betting that Bitcoin could surge past $300,000,” Hallarn noted.
Historically, such high-strike options have garnered attention during periods of bullish market sentiment. The $300K call option stands out as one of the most popular contracts for the June expiry, suggesting that traders are betting on a breakout similar to previous Bitcoin bull runs.
In addition to the speculative interest in the $300K call, many traders are also engaging in covered call strategies to generate additional income. This strategy involves holding Bitcoin while simultaneously selling high-strike calls, like the $300K option, to earn premiums. This allows traders to gain from both Bitcoin’s potential appreciation and the premiums from option sales.
As the expiration date nears, the $300K call is becoming a key focal point for Bitcoin traders, and it’s clear that June 26, 2025, could mark an important moment for the cryptocurrency market.
