Deribit Ether Options Do Not Deliver ETH When Contracts Expire

Ether (ETH) options on Deribit do not physically deliver the underlying asset at expiry, even though open interest is reported in ETH. The denomination does not mean an equivalent amount of Ether will change hands when the contracts expire. Deribit’s monthly options are scheduled to expire Friday, Oct. 30, at 4 a.m. ET (08:00 UTC). The delivery price uses a 30-minute time-weighted average of the exchange’s index from 3:30 to 4 a.m. ET (07:30 to 08:00 UTC). Options positions can reflect hedging as well as directional bets, so the expiry mechanics alone do not establish a market outlook.