June 13 Options Expiration Data
28,000 $BTC options expired, with a Put Call Ratio of 0.9, maximum pain point at $106,000, and notional value of $2.93 billion.
244,000 options expiring on $ETH , with a Put Call Ratio of 1.13, maximum pain point at $2,650, and notional value of $620 million.
Recent volatility usually occurs before weekly expirations; due to Israel's attack on Iran, significant risk-off sentiment has emerged, leading to a notable pullback in cryptocurrencies.
Looking at the main delivery data, the delivery volume is about 8% of the total open interest, this ratio has decreased again after rebounding last week. In terms of implied volatility, BTC's IV is still hovering at a low level, while ETH's IV has risen significantly, indicating that there is more room for volatility strategies to operate on ETH recently.
With the continuous decline of IV and RV, this week's VRP has remained high, which is indicative of a significant drop in RV, and IV requires a larger safety cushion, marking a sign of extremely low market volatility. After today's adjustment, VRP has decreased but remains at a high level.
Combining with block trade data, the main players are currently increasing their positions in put options, entering a defensive phase.
