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crypto options

$3.6B Crypto Options Expire – Market Volatility Ahead?

by Ouess July 4, 2025

written by Ouess

Approximately $3.6 billion in Bitcoin and Ethereum options are set to expire today—a potential catalyst for short-term volatility. While smaller than last week’s $17.27B expiry, today’s event could still shake up crypto markets.

Breaking Down the Numbers

💰 Bitcoin Options ($2.98B expiring)

27,384 contracts (vs. 139,390 last week)
Put/Call Ratio: 1.05 (slightly bearish)
Current Price: $109,130 (above $106K max pain)

Expiring Bitcoin Options. Source: Deribit

💎 Ethereum Options ($610M expiring)

237,278 contracts (vs. 938,551 last week)
Put/Call Ratio: 1.25 (more bearish than BTC)
Current Price: $2,577 (above $2.5K max pain)

Expiring Ethereum Options. Source: Deribit

What Is “Max Pain” & Why It Matters

The maximum pain price is where the most options expire worthless—causing maximum losses for traders. Interestingly:

Both BTC and ETH are trading above their max pain levels
Historically, prices often gravitate toward max pain near expiry

Mixed Signals From Traders

Analysts note:
🔹 Short-term caution: Traders using put spreads & hedging
🔹 Long-term bullishness: Call options still being held
🔹 Unusual activity: Rising perp CVD + stagnant spot market

https://t.co/n0OcjSGEsP Community Daily Digest

Published: 2025-07-03

Overall Market Sentiment

The group shows a mixed sentiment with tactical bearishness in the short term but maintains underlying bullish conviction, particularly around key resistance levels like 90k and 102k.…
— Greeks.live (@GreeksLive) July 3, 2025

What to Watch Next

Potential support levels: $102K BTC / $2.4K ETH
OI & funding rates: Increasing—could signal position shifts
Post-expiry reaction: Will prices hold or revert to max pain?

July 4, 2025 0 comment

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Bitcoin and Ethereum Options Expire Today: Market Impact Analysis

by Ouess January 24, 2025

written by Ouess

Today, the crypto market braces for the expiration of nearly $4 billion worth of Bitcoin (BTC) and Ethereum (ETH) options. This event could influence short-term trends based on contract volumes and their notional value. Traders are closely monitoring key indicators such as put-to-call ratios and maximum pain points to anticipate potential market movements.

BTC and ETH Options Expiration Overview

The notional value of expiring Bitcoin options stands at $3.19 billion. According to Deribit, 30,645 BTC options will expire, with a put-to-call ratio of 0.48. This indicates a higher demand for call options compared to puts, suggesting a bullish sentiment among traders.

Similarly, 173,830 Ethereum contracts, valued at $574.8 million, are set to expire. These options have a put-to-call ratio of 0.47, with a maximum pain point at $3,300.

Key Price Levels and Market Sentiment

Currently, Bitcoin trades at $103,388, while Ethereum is at $3,305—both above their respective maximum pain points. If prices hold, many option holders may face financial losses.

🚨 Options Expiry Alert! 🚨
At 08:00 UTC on Jan 24, $3.51B in crypto options expire on Deribit.$BTC: $2.99B notional | Max Pain: $99K | Put/Call: 0.48$ETH: $542M notional | Max Pain: $3,300 | Put/Call: 0.47

BTC max pain ticks higher, while ETH traders position near key… pic.twitter.com/lWIoQwRjpr
— Deribit (@DeribitExchange) January 23, 2025

The final outcome for traders depends on strike prices and market conditions. Investors must assess their entire options strategy to gauge potential profits or losses accurately.

Implications for the Crypto Market

The expiration coincides with President Donald Trump’s executive order to establish a digital asset reserve in the US. If approved, this reserve could include more crypto assets beyond Bitcoin. Additionally, regulatory changes, such as the SEC repealing the SAB 121 policy, now allow banks to custody crypto, further influencing market sentiment.

Analyst Insights and Predictions

CryptoQuant analysts note increased interest in Bitcoin options with a $95,000 strike price for January. This suggests traders are hedging against possible downside risks as Bitcoin faces waning momentum.

https://twitter.com/ki_young_ju/status/1882006089887306093

Despite current fluctuations, experts predict that the market will remain range-bound. Investors await further economic data, particularly the recent weak Consumer Price Index (CPI) figures, which could impact the upcoming Federal Open Market Committee (FOMC) meeting.

Conclusion

As Bitcoin and Ethereum options expire today, the crypto market faces potential volatility. Traders should stay informed and consider market trends and upcoming economic events to navigate this dynamic environment

January 24, 2025 0 comment

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Bitcoin and Ethereum Options Expiration: What to Expect

by Ouess December 13, 2024

written by Ouess

Today, nearly $3 billion worth of Bitcoin (BTC) and Ethereum (ETH) options are set to expire. This could lead to notable price swings as traders brace for potential volatility.

$2.72 Billion in Options Set to Expire

According to Deribit, 20,815 Bitcoin contracts valued at $2.077 billion will expire today. The put-to-call ratio is at 0.83, meaning traders are favoring long positions.

Bitcoin Options Expiration. Source: Deribit

The “maximum pain” point for Bitcoin is $98,000, slightly below its current market price of $99,758. This level represents the price at which the most options holders face losses.

Similarly, 164,330 Ethereum contracts worth $644 million will expire. For Ethereum, the put-to-call ratio stands at 0.68, suggesting a preference for long positions.

Will the Market See a Christmas Rally?

This week, the market saw corrections across the board. Bitcoin experienced mild pullbacks, while altcoins faced sharper declines. As the holiday season nears, market makers are repositioning their strategies.

13 Dec Options Data
21,000 BTC options expired with a Put Call Ratio of 0.83, a Maxpain point of $98,000 and a notional value of $2.1 billion.
164,000 ETH options expired with Put Call Ratio of 0.68, Maxpain point of $3,700 and notional value of $640 million.
This week's market… pic.twitter.com/sAiSctiN9K
— Greeks.live (@GreeksLive) December 13, 2024

Bitcoin currently trades below $100,000, while Ethereum is hovering near $4,000. Analysts speculate whether this could lead to a year-end rally or continued market divergence.

Increased Caution Among Traders

Recent options market data shows that implied volatility (IV) has risen slightly amid sharp market fluctuations. Analysts from Greeks.live suggest that short-term trading strategies might benefit from the current environment.

Economic Factors Adding Complexity

This expiration coincides with a week of critical U.S. economic updates. Inflation rose to 2.7% in November, with the core CPI steady at 0.3%. While a Federal Reserve rate cut is expected, persistent inflation challenges sustained monetary easing.

December 13, 2024 0 comment