Bitcoin and Ethereum Options Expiry Highlights Market Trends

According to PANews, data from [email protected] indicates that on June 13, 28,000 Bitcoin (BTC) options and 244,000 Ethereum (ETH) options are set to expire. The BTC options have a put-call ratio of 0.9, with a maximum pain point at $106,000 and a nominal value of $2.93 billion. Meanwhile, ETH options show a put-call ratio of 1.13, with a maximum pain point at $2,650 and a nominal value of $620 million. The delivery volume accounts for approximately 8% of the total open interest, marking a decline following a rebound last week. In terms of implied volatility (IV), BTC remains at a low level, whereas ETH has seen a noticeable increase, suggesting greater operational space for volatility strategies on ETH. The market volatility risk premium (VRP) is high this week, indicating a state of extremely low market volatility. Despite some adjustments today, the VRP remains elevated. Additionally, data from block trades show that major market players are increasing their positions in put options, entering a defensive phase. Recent geopolitical factors have heightened market risk aversion, leading to a significant pullback in cryptocurrency prices.