💥💥💥Attention: Today is the expiration of $BTC and $ETH options, beware of volatility!
The options expiring today are substantial: BTC 28,000 contracts ($2.93 billion notional), ETH 244,000 contracts ($620 million notional), with maximum pain points at $106,000 and $2,650 respectively.
The airstrikes in Israel against Iran have heightened risk aversion, leading to noticeable market fluctuations before the expiration. Notably, the implied volatility of BTC remains low, while ETH has seen a significant increase, making the volatility strategy for ETH more operationally promising.
The market is currently in a low volatility expectation (high volatility risk premium), and the movement of major funds also confirms a defensive mindset—actively increasing holdings in put options.
