On August 23, 18,000 Bitcoin (BTC) options are scheduled to expire, carrying a significant notional value of $1.12 billion. The Put Call Ratio stands at 0.83, indicating a slight preference for calls over puts. The Maxpain point, where the most options contracts would expire worthless, is set at $60,000. This data suggests that traders anticipate a relatively stable market, with no immediate signs of heightened volatility.
140,000 ETH Options Expiring Soon
Simultaneously, according to the firm’s report, 140,000 Ethereum (ETH) options are also approaching expiration, with a notional value of $370 million. The Put Call Ratio for ETH options is 0.93, nearly balanced between calls and puts, with the Maxpain point at $2,625. This balance suggests a cautious market outlook, where traders are neither overly bullish nor bearish on ETH’s short-term price movement.
According to the latest options data, positions in weekly options have been declining, representing just under 7% of the total market this week. This drop reflects a broader trend of reduced short-term speculation, with traders possibly adopting a more cautious approach in light of the recent market conditions.
The data indicates that the market is currently in a calm cycle, characterized by a solid term structure and gradually decreasing expectations of future volatility. This environment, coupled with no significant implied volatility (IV) spike during this week’s annual central bank meeting, suggests that the best strategy for traders might be to wait for clearer market signals before taking positions.
