Greeks.live: $1.4 billion in BTC options and $1.3 billion in ETH options are about to expire

2024-05-24 14:58:51

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ChainCatcher news, Greeks.live macro researcher Adam posted on the X platform that 21,000 BTC options are about to expire, with a Put Call Ratio of 0.88, a maximum pain point of $67,000, and a nominal value of $1.4 billion. 350,000 ETH options are about to expire, with a Put Call Ratio of 0.58, a maximum pain point of $3,200, and a nominal value of $1.3 billion.

ETH has taken over the rise from BTC, spurred by ETF developments, experiencing a single-day increase of 20%, with short-term options IV reaching 150%, far exceeding the current IV of BTC. Now, the divergence between BTC and ETH is evident. From the perspective of block trades and market trading structure, bullish sentiment for ETH remains strong, but maintaining high IV across major maturities is challenging; calendar spreads may be a better choice. In contrast, BTC shows a more balanced long and short position, with stronger selling pressure on calls.

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