Greeks.live said 29,000 BTC options expired with a put-call ratio of 0.6, a max pain point of $78,000 and a notional value of $2.24 billion. For ETH, 114,000 options expired, with a put-call ratio of 1.17, a max pain point of $2,450 and notional value of $280 million.
The report said Bitcoin is still trading in a consolidation range near $80,000 after moving to that level over three days in the latter part of last month. It has now moved sideways for nearly three weeks. Monthly realized volatility stayed flat from last week, while monthly implied volatility edged higher and VRP rose across major tenors.
Other options data showed 7% of contracts expired this week. Open interest in BTC and ETH slipped slightly from a week earlier, and overall trading activity also cooled. Greeks.live added that after 10 months of a bear market, most gains in large-cap tokens during the current bull cycle were concentrated in one week last month. During the pullback, some narrative-driven tokens and meme coins recovered, which it described as a constructive sign. It also said a brief calm in U.S. stocks gave crypto a window to catch its breath, and with monthly out-of-the-money IV still not high, directional buying may still be worth considering.
ChainCatcher, citing Greeks.live, reported fresh options expiry data showing that 29,000 BTC options expired, with a put-call ratio of 0.6, a max pain point of $78,000 and a notional value of $2.24 billion.
At the same time, 114,000 ETH options expired, carrying a put-call ratio of 1.17, a max pain point of $2,450 and a notional value of $280 million.
According to the analysis, Bitcoin is still consolidating near $80,000. It climbed to $80,000 in three days in the latter part of last month and has now traded sideways for nearly three weeks. Monthly realized volatility, or RV, was unchanged from last week, while monthly implied volatility, or IV, rose slightly. VRP across major tenors also moved higher.
Other key options metrics showed that 7% of options expired this week. Open interest in BTC and ETH fell slightly from last week, while overall trading activity also softened.
Greeks.live also said the crypto market had gone through 10 months of a bear market. In the current bull cycle, most gains in major tokens were concentrated within one week last month. During the pullback, some narrative-driven tokens and meme coins showed signs of recovery, which it called a positive signal. The report added that a brief period of calm in U.S. equities gave the crypto market some room to breathe. With monthly out-of-the-money IV still not high, it said some directional buying still looked worthwhile.
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