🔍This Friday, the BTC and ETH options markets will see over $2.7 billion in notional value expiry
According to data from Coinglass, nearly 2.4W BTC options contracts expired on the Deribit platform today, with a Put Call Ratio of 0.63. The maximum pain point price of these options is US$98,000, and the nominal value involved is as high as US$2.064 billion. .
At the same time, Deribit will have more than 16.8W ETH option contracts expiring today, with a call-put ratio of 0.70, a maximum pain point price of $3,700, and a nominal value of $639 million.
In summary, the above shows that in current options market transactions, market participants are relatively optimistic about the future prices of BTC and ETH.
In addition, analysts believe that the cryptocurrency market this week is dominated by shock adjustments. Compared with last week, Bitcoin's fluctuations were smaller, while altcoins' adjustments were more significant.
At the same time, as Christmas and year-end settlement approach, cryptocurrency market makers have begun to adjust their positions, with the recent trading volume of large call options accounting for an average of more than 30% per day.
According to historical experience, trading activity in European and American markets usually decreases during Christmas. Coupled with the increased impact of U.S. stocks on the cryptocurrency market this year, this trend may become more prominent.
Market reports pointed out that as market volatility increased, there was a small increase in implied volatility (IV) for major contract tenors. Therefore, market makers currently generally hold a cautious trading stance.
Options trading this week is mainly focused on short-term PVP (in-the-money ratio), so the cost-effectiveness of buying options is still very high, which also reflects that the current options market is particularly suitable for short-term trading.
💬Do you think this week’s options expiration will affect the prices of BTC and ETH? What unique trading insights or strategies do you have for the current options market?
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