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DOGE $0.0997 +0.53%
ADA $0.2303 -1.00%
BCH $290.62 -2.65%
LINK $9.02 -0.23%
HYPE $72.36 +5.04%
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nomina

Data: Bitcoin and Ethereum options with a nominal value of $1.88 billion are set to expire

According to Greeks.live, options expiration data shows that 21,000 BTC options are expiring, with a Put Call Ratio of 0.66, a maximum pain point of $78,500, and a nominal value of $160 million; 129,000 ETH options are expiring, with a Put Call Ratio of 0.92, a maximum pain point of $2,200, and a nominal value of $280 million.Analysis indicates that Bitcoin has ended a one-and-a-half-month rebound this week, but the market support remains strong. The market is relatively calm, with low attention; this week, less than 5% of BTC options are expiring, and similarly, only 5% of ETH options are expiring. The delivery volume for BTC is not large, with the maximum pain point close to the current price, resulting in a stronger Gamma/pin effect near delivery; the delivery volume for ETH is only half of last week’s, and the current price is below the maximum pain point. The brief increase in the proportion of ETH options this month has ended, and the short-term implied volatility is likely to decline after delivery.From the main options data, the Skew continues to decline slightly, with the implied volatility for major maturities significantly dropping compared to last week, with a decrease exceeding that of realized volatility, and the volatility risk premium has increased. The implied volatility for major Bitcoin maturities has fallen below 35%, while the implied volatility for major ETH maturities has fallen below 50%, with even lower levels in the short term. Block trades are primarily structured, with large whales continuously building short-term low-cost protective positions, and volatility expectations are low, leading to overall market activity being below expectations.

Analyst: The nominal value of $2.14 billion in options will expire, with Bitcoin performing significantly better in both price and popularity compared to the last three months

According to data from Greeks.live, a total of 23,000 BTC options are set to expire, with a Put Call Ratio of 1.13, a maximum pain point of $76,000, and a nominal value of $1.74 billion. Additionally, 175,000 ETH options will also expire, with a Put Call Ratio of 0.94, a maximum pain point of $2,325, and a nominal value of $400 million.Greeks.live analyst Adam stated that this week's market fluctuations are small, with Bitcoin hovering around $78,000, and market sentiment gradually becoming calmer. The short-term RV has significantly decreased, combined with monthly settlements releasing nearly a quarter of the position margin, leading to a noticeable decline in the implied volatility of major expiration options this week. The major expiration IV of Bitcoin has fallen below 40%, while the major expiration IV of ETH has decreased even more, with short-term IV dropping below 50% and medium to long-term also falling below 60%. From the main options data, the Skew remains relatively stable, and the market's directional sentiment remains slightly bearish. This week, only 6% of options are expiring, with about 25% of positions at the end of the month and about 30% of positions at the end of June. Block trades are relatively inactive, all of which are signals of consolidation. In April of this year, Bitcoin performed significantly better in both price and popularity compared to the previous three months, but the altcoin market has seen limited recovery. Currently, the focus is mainly on Bitcoin, and trading altcoins will require further waiting.

Bitcoin and Ethereum options with a nominal value of 9.87 billion USD will be settled upon expiration

Greeks.live macro researcher Adam posted on platform X to announce options expiration data: 1. 109,000 BTC options expired, Put Call Ratio was 0.93, maximum pain point at $72,000, notional value of $8.55 billion. 2. 563,000 ETH options expired, Put Call Ratio was 0.72, maximum pain point at $2,200, notional value of $1.32 billion.This week the market continued to rebound, with Bitcoin strongly breaking through $78,000. The Web3 conference in Hong Kong was also filled with a joyful atmosphere of rising prices, and altcoin markets are warming up. This is a monthly expiration, with 25% of options set to expire. In terms of holding period, the distribution of open contracts in the options market shows 12% at the end of May and 24% at the end of June. From the main options data, Bitcoin's main term implied volatility (IV) has continued to decline this month, with most term IVs dropping by 1% to 2%, falling below 40%, while ETH's main term IV has decreased even more, currently around 60%.Despite the price increase, the Skew has retreated, and the market does not exhibit FOMO sentiment. In the second quarter of this year, Bitcoin performed significantly better than in the first quarter in terms of both price and popularity. This month's continued rebound is a sign of capital inflow; if macro pressures bottom out by mid-year, then Bitcoin's bottom will also be confirmed.

Analysis: Bitcoin and Ethereum options with a nominal value of 1.97 billion dollars are set to expire today

Greeks.live macro researcher Adam posted on platform X that today 23,000 BTC options are expiring, with a Put Call Ratio of 0.88, a maximum pain point of $70,000, and a nominal value of $1.6 billion. 176,000 ETH options are expiring, with a Put Call Ratio of 1.04, a maximum pain point of $2,150, and a nominal value of $370 million.The current rebound in the crypto market has been declared over, with Bitcoin briefly falling below the $70,000 threshold. In the past week, $75,000 has often been mentioned as a key resistance level, with 5% of options expiring at this price by the end of the month. The final breakthrough failed, falling back to around $70,000. Next Friday is the quarterly settlement, and from the options market data, $75,000 is the price with the most concentrated positions, making it an absolute resistance level. The lower levels of $65,000/$62,000/$60,000 are all areas of dense positions and can be considered as support for a decline.This week, the implied volatility (IV) and realized volatility (RV) of major expiration options have remained basically unchanged, with the main expiration IV for BTC at 50% and for ETH at 70%. The RV continues to decline, causing the volatility risk premium (VRP) to rise continuously. Only options accounting for 5% of the total positions are expiring, continuing to hit record lows. Despite the volatility, Bitcoin's trading activity remains at extremely low levels. Due to the price decline, the skew has decreased across the board, and the market is still in a bear phase, with bullish forces being very weak.
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