A total of approximately $1.5 billion worth of Bitcoin (BTC) and Ethereum (ETH) options are expiring today.
According to data from Deribit, one of the largest exchanges, 18,000 Bitcoin contracts worth a total of $1.12 billion are expiring today. The put call ratio of these options is 0.83, while the maximum pain level is $60,000.
Max pain is the strike price that has the most open option contracts. This is the price that will cause the largest number of option holders to suffer financial losses when the options expire. The put-call ratio is the ratio between the call options and the put options in the market.
In addition to Bitcoin, 140,000 Ethereum contracts worth more than $370 million are also expiring. Their put call ratio is 0.93 and their max pain level is $2,625.
The best strategy may be to “wait”
According to CoinGecko data, the total value of the cryptocurrency market increased by 0.3 percent on a daily basis to $2.26 trillion. Bitcoin and Ethereum prices are traded at $60,926 and $2,676, respectively.
“Weekly options positions continue to fall. Given that the market is relatively flat, the best strategy may be to wait. Options data suggests the market is quite calm,” said derivatives analyst Greeks.live
‼️‼️‼️‼️‼️‼️‼️‼️
Friends, everyone who uses their voting rights by visiting my profile will earn $5 from the Binance prize pool and will also receive a share of the $10,000 prize pool.
You can vote by clicking on this text
