On December 13, Greeks.live researcher Adam reported on social media that 21,000 BTC options expired, with a Put Call Ratio of 0.83, a maximum pain point of $98,000, and a nominal value of $2.1 billion. Additionally, 164,000 ETH options expired, with a Put Call Ratio of 0.68, a maximum pain point of $3,700, and a nominal value of $640 million.
This week’s market is dominated by adjustments. Unlike the previous week, the adjustment amplitude of Bitcoin is smaller, while the adjustment amplitude of altcoins is stronger. As Christmas and annual delivery approach, market makers have begun to adjust their positions. Recently, the proportion of large call option transactions has been relatively high, with an average daily proportion of over 30%.
In previous years, trading popularity in Europe and the United States has significantly dropped during Christmas. However, this year, the influence of US stocks on crypto may be even more apparent. Over the past two weeks, options market data has indicated that market makers have been more cautious.
The market’s volatile fluctuations have caused the main term IV to rise slightly. Options are particularly suitable for short-term gaming at this time. The main transactions this week have been short-term PVP, and the price/performance ratio for buying options remains high.
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