December 26 Options Expiry: Why Bitcoin Traders Are Watching This Date Like Hawks

Bitcoin is currently trading around $90,490, having pulled back significantly from its October peak of $126,080. While the lack of upward momentum frustrates many, blockchain analyst and bitcoin advocate Samson Mow argues that the real catalyst lies not in price charts, but in the options market—specifically, what happens on December 26 (UTC+8).

The Options Market’s Hidden Game

Beneath the surface of BTC’s stagnation lies a sophisticated hedging mechanism. According to Samson Mow’s analysis, massive options positions are set to expire on December 26, with notable open interest concentrated around specific strike prices. Call options are heavily accumulated between $100,000 and $118,000 levels, with the densest clustering at the $100,000 mark.

On the downside, put option exposure clusters around $85,000 to $90,000, creating what traders call “gamma support”—a technical floor that’s been artificially constraining price movement.

How Gamma Creates Market Stillness

This price compression isn’t random. Options market makers manage their delta exposure through constant rebalancing: they sell when prices spike and buy when prices dip. This mechanical process suppresses volatility artificially, creating what Samson Mow describes as a period of enforced stalemate rather than genuine equilibrium.

The hedging activity essentially puts gravity on BTC’s price action, preventing explosive moves in either direction.

What Changes on December 26 (UTC+8)?

When these contracts expire, the hedging mechanism vanishes. Market makers unwind their delta-neutral positions, and the technical supports and resistances created by options positioning disappear almost instantly.

Historical precedent suggests that bitcoin doesn’t stay quiet after such structural collapses. If BTC maintains its position above $90,000 and breaks through $100,000 on genuine volume, a cascade is likely: traders managing short call positions will be forced to purchase additional coverage, potentially sending prices toward the $110,000-$112,000 region in rapid fashion.

Samson Mow’s message to traders is clear—mark your calendar. The real action begins after the options dust settles.