BTC and ETH Options Close to $9 Billion in Notional Value Set to Expire Today
BlockBeats News, January 30th, according to Greeks.live data, 91,000 BTC options will expire today, Put Call Ratio is 0.48, the maximum pain point is $90,000, with a notional value of $7.6 billion.
435,000 ETH options will expire today, Put Call Ratio is 0.68, the maximum pain point is $3,000, with a notional value of $11.9 billion.
Greeks.live analyst Adam stated that today is the first monthly expiration after the annual settlement, with 25% of the total open interest expiring, totaling nearly $9 billion, with significantly more call options expiring. Both Bitcoin and Ethereum prices have entered a sharp downturn trend since yesterday, rekindling panic that had rarely eased recently in the crypto market. This is still the aftershock of the sharp decline in the fourth quarter of last year. Currently, $80,000 is a strong support level for BTC, and $2,500 for ETH.
Looking at the major options data, the implied volatility of BTC and ETH has risen significantly, with BTC's main term IV averaging around 45% and ETH's main term IV at 60%, both at their highest levels this year. The volume and trading share of large options trades remain relatively high this cycle, mainly driven by the need to shift positions. Currently, market makers and active traders hold more cash, showing a strong willingness to trade, with the greatest demand for put defense.
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