According to Odaily, Greeks.live researcher Adam has reported on platform X that 107,000 BTC options have expired, with a Put Call Ratio of 0.5, a maximum pain point of $57,000, and a nominal value of $6.6 billion. Additionally, 1.04 million ETH options have expired, with a Put Call Ratio of 0.59, a maximum pain point of $3,100, and a nominal value of $3.6 billion.
This marks the end of the quarter, with over $10 billion in nominal value of options being delivered. June has been a challenging month for the crypto market, with BTC and ETH prices nearing what investors considered to be an unattainable maximum pain point, leading to a rather pessimistic market atmosphere.
Despite significant market fluctuations, the mainstream coin IV has not shown a noticeable increase, with BTC's main term IV below 50% and ETH's main term IV below 60%, both at relatively low levels.
In the coming days, following the completion of today's delivery, the IV is expected to face strong downward pressure. Adam suggests that buying some bullish options when the IV is low could be a highly cost-effective choice, especially as more definitive news about the ETH ETF is expected at the beginning of next month.