[November 29th option delivery data]
On November 29th, Bitcoin options and Ethereum options respectively ushered in large-scale expiration. The specific data are as follows:
Bitcoin (BTC): The number of expiring options is 98,000, the Put/Call ratio is 0.84, the maximum pain point is at US$80,000, and the nominal value is US$9.48 billion.
Ethereum (ETH): The number of expiring options is 412,000, the Put/Call ratio is 0.75, the maximum pain point is at US$2,900, and the nominal value is US$1.47 billion.
Although Bitcoin failed to break through the $100,000 mark, Ethereum performed outstandingly this week, leading the market trend, and altcoins also rebounded in rotation.
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Yesterday in our discussion, we mentioned that Bitcoin's leading rally may end, but Ethereum successfully took over, stabilizing the bull market sentiment, and the spot bull market remained stable.
More than 20% of the options contracts expired this week, and next month will usher in the expiration of the year-end options, and about 40% of the positions will expire.
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This wave of concentrated expiration of options contracts, as well as possible large-scale transfers and Christmas market conditions, may put some pressure on implied volatility.
The current market sentiment is quite optimistic, but institutions are concerned about the risk of replicating the market at the end of 2020, and the cautious sentiment in the options market is also intensifying.