$5.2 billion BTC, ETH options expired at 15:00 on Friday, October 25.
BTC option value: $4.2 billion
Put/Call ratio: 0.63
Max Pain price: $64,000
ETH option value: $1 billion
Put/Call ratio: 0.96
Max Pain price: $2,600
You can simply understand that at the expiration time, if the price of BTC or ETH is close to the Max Pain price, the investor will suffer the biggest loss.
