According to BlockBeats, on May 31, according to Greeks.live data, 69,000 BTC options expired, with a Put Call Ratio of 0.37, a maximum pain point of $66,000, and a nominal value of $4.7 billion. 920,000 ETH options expired, with a Put Call Ratio of 0.46, a maximum pain point of $3,300, and a nominal value of $3.5 billion. This week's crypto market was slightly flat. This May can be said to be the best May in recent years. ETH had a single-day increase of 20%. This year's bull market has not ended, and the market atmosphere is relatively optimistic. Now the differentiation between BTC and ETH is obvious. The IV of each major term of BTC has fallen to a relatively cold level, but ETH still maintains a high level. Selling ETH and buying BTC to make cross-currency IV difference is a good strategy. The downward pressure on ETH IV is relatively large.