Odaily, citing data from Greeks.live, reported that BTC and ETH options with a combined notional value of $2.13 billion expire today. The expiry includes 31,000 BTC options, with a Put Call Ratio of 0.78, a max pain point of $65,000, and a notional value of $1.9 billion. It also includes 138,000 ETH options, with a Put Call Ratio of 1.03, a max pain point of $1,725, and a notional value of $230 million.
This Week’s Expiry Sits Near Recent Average Levels
Based on the main options data, 6.5% of options expire this week, a share that is lower than last week and broadly in line with recent average levels. The max pain point is a commonly watched options-market metric that refers to the price level at which option buyers face the greatest overall loss and option sellers receive the greatest overall benefit at expiry.
Greeks.live also noted that the two “big sticks” of Strategy selling Bitcoin and the discount have dealt a major blow to market confidence. The data provider said capital inflows will be more difficult to restore, while overall market sentiment remains cold. Against that backdrop, today’s BTC and ETH options expiry offers another snapshot of the short-term structure in crypto derivatives markets.