Bitcoin and Ethereum Options Expiry Looms!

Approximately 29,000 BTC options with a notional value of $880 million and 220,000 ETH options with a notional value of $410 million are set to expire, providing insight into the sentiment and expectations of traders.

🎊July 7 Options Data

📷29k BTC options are about to expire with a Put Call Ratio of 0.76, a max pain point of $30,000 and a notional value of $880 million.

📷220k ETH options are about to expire with a Put Call Ratio of 0.48, a max pain point of $1,875 and a notional… pic.twitter.com/YwOzP4Ub2x

— Greeks.live (@GreeksLive) July 7, 2023

According to recent data shared on Twitter by GreeksLive, the BTC options expiry presents an intriguing snapshot of market dynamics. With a Put Call Ratio of 0.76, indicating a higher number of put options relative to call options, some traders appear to be anticipating a downward movement in BTC’s price.

Additionally, the max pain point, calculated to be $30,000, suggests that market participants may seek to influence BTC’s price toward this level, possibly leading to increased volatility as the expiry nears.

The ETH options expiry, on the other hand, reveals a slightly different scenario. The Put Call Ratio stands at 0.48, indicating a lower proportion of put options relative to call options, implying a more bullish sentiment among traders. The max pain point for Ethereum options is calculated to be $1,875, signaling that market participants may have an incentive to push ETH‘s price toward this level before the expiry, potentially impacting market dynamics.

6Additionally, the max pain point, calculated to be $30,000, suggests that market participants may seek to influence BTC’s price toward this level, possibly leading to increased volatility as the expiry nears.

The ETH options expiry, on the other hand, reveals a slightly different scenario. The Put Call Ratio stands at 0.48, indicating a lower proportion of put options relative to call options, implying a more bullish sentiment among traders. The max pain point for Ethereum options is calculated to be $1,875, signaling that market participants may have an incentive to push ETH‘s price toward this level before the expiry, potentially impacting market dynamics.

The impending expiry of these options contracts could lead to heightened market volatility as traders adjust their positions or seek to influence the underlying asset’s price. Such events often have the potential to impact the broader crypto market, as they can trigger cascading effects on other cryptocurrencies.

Investors and market observers are closely monitoring the options expiry to gain insights into the overall sentiment and expectations within the crypto market. While these figures do not guarantee specific price movements, they provide valuable information on market participants’ positions and potential strategies.