BTC and ETH options are about to expire, with the maximum pain point for ETH at $4,000.

According to news from Hash Rate Chain, data from Greeks.live shows that on August 15, there will be 39,000 BTC options and 280,000 ETH options expiring. The maximum pain point for BTC options is $118,000, with a nominal value of $4.6 billion; the maximum pain point for ETH options is $4,000, with a nominal value of $1.3 billion. The total delivery value of this cycle's options is close to $6 billion, accounting for 9% of the current total open interest. Meanwhile, the prices of BTC and ETH have reached historic highs, and market sentiment is extremely optimistic. Data shows that the short-term IV for BTC remains below 35%, while the main IV for ETH is as high as 70%, consistent with market expectations for volatility. The options market has seen active trading recently, with a clear market divergence, and both bullish and bearish trades are very frequent.