Greeks.live: BTC options with a notional value of $1.25 billion and ETH options with a notional value of $1 billion will expire today

2024-06-07 13:01:28

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ChainCatcher news, Greeks.live macro researcher Adam posted on social media that 18,000 BTC options are expiring, with a Put Call Ratio of 0.67, a maximum pain point of $70,000, and a nominal value of $1.25 billion. 260,000 ETH options are expiring, with a Put Call Ratio of 0.64, a maximum pain point of $3,650, and a nominal value of $1 billion.

Adam stated that this week the Bank of Canada and the European Central Bank initiated interest rate cuts, leading to a good performance in the entire venture capital market. The crypto market is now driven by both BTC ETF and ETH ETF, with a clear divergence in macro and news factors, creating a relatively optimistic market atmosphere.

Currently, the implied volatility (IV) for major BTC maturities is around 50%, and for major ETH maturities, it is around 55%, both having fallen to reasonable levels. The cross-currency IV spread strategy of selling ETH and buying BTC mentioned last week can now be profitably closed. This month, BTC's market trend is likely to be strongly correlated with the macro news of the Federal Reserve's interest rate cuts, while ETH's movement is mainly influenced by news regarding ETF approvals.

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