According to Wu's reports, as per Greeks live, on June 13th, there will be 28,000 BTC and 244,000 ETH options expiring, with notional values of $2.93 billion and $620 million, respectively, and the maximum pain points are $106,000 and $2,650, respectively. With the Israeli airstrikes on Iran triggering risk-averse sentiments, the market has shown significant volatility before the settlement, with BTC implied volatility remaining low, while ETH has increased significantly, allowing for greater operational space in volatility strategies. This week, the volatility risk premium is at a high level, indicating extremely low market volatility, with major funds increasing their holdings in put options, entering a defensive phase.