The trading volume of options for bitcoins on the Bakkt platform decreased to zeroalthough a competitive product from the Chicago Mercantile Exchange (CME) is still very important.
An option contract gives the right, but not the obligation, to buy or sell the stated amount of the underlying on or before the due date.
According to Bakkt, no contract for bitcoin options was concluded last week. Last activity was registered on January 17.
In the first four weeks after the launch, which took place on December 9, the volume of options trading was just over $ 1 million. The highest contract worth $ 500,000 was awarded in the second week.
These figures seem very weak compared to CME data. The Chicago Mercantile Exchange listed options on January 13, one month after the launch of Bakkt. The trading volume on the first day was $ 2.3 million and the few traders dealing with Bakkt Bitcoin options switched to CME. Although there is no longer any activity on Bakkt, 59 many options were sold on CME.