Bitcoin and Ethereum Options Worth $2 Billion Set to Expire Today

Options data reveals that 18,000 Bitcoin (BTC) and 280,000 Ethereum (ETH) options worth $2 billion are set to expire today as weak crypto markets persist.

May 10 options data reveals significant impending expiries in the cryptocurrency market, according to for Greeks.live. For context, options are financial contracts that confer transactional rights but not obligations on investors at a specific time and rate.

As disclosed in a recent Geeks Live post, approximately 18,000 Bitcoin (BTC) options and 280,000 Ethereum (ETH) options are about to expire, with metrics indicating influence from historical data and market sentiment.

O Bitcoin The options market has a put ratio of 0.64, signaling greater optimism. Furthermore, the maximum pain point was $62,000, indicating a potential convergence of options value around this price level. The collective notional value of these expired BTC options amounts to $1.2 billion.

Meanwhile, the ETH options market shows a put ratio of 0.74, suggesting a slightly greater preference for bullish positions. At $3,050, the maximum pain point implies potential pull toward that price level at expiration. Furthermore, the cumulative notional value of the maturity ETH options total US$800 million.

Market shows weakness as volumes decline

This data reflects the drop and decline in volumes witnessed by crypto markets throughout the week. Geeks Live confirms that the notional value of the BTC and ETH options that expired last week was $2.4 billion, while the figure two weeks ago it was a staggering $9.3 billion.

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Keep in mind that the Bitcoin ETF recently saw massive outflows in April. While the exits experienced by the US BTC ETF has declined, the market trading structure and block trading activities indicate persistent price fragility, resulting in low investor confidence.

In conjunction with market sentiment, implied volatility (IV) in key trends is bearish, with IV levels following the average high-water mark. Meanwhile, Bitcoin currently trades for $63,250, up 3% in the last 24 hours, while Ethereum has gained 1.8% to $3,025 over the same period.

Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinion of The Crypto Basic. Readers are encouraged to do thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.

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