#Binance

Bitcoin and Ethereum Options Worth $4.7 Billion at Stake

Data from Deribit shows that the open interest for Bitcoin options currently stands at 33,855 contracts, representing a notional value of $3.82 billion.

The put-to-call ratio (PCR) stands at 1.30, indicating a tendency towards hedging against downside as traders seek protection.

The maximum pain point, which is the strike price at which option holders face the largest collective losses, stands at $118,000.

This is significantly higher than the current spot price of Bitcoin at $113,019 at the time of writing.

Meanwhile, analysts at Deribit indicate that Bitcoin's expiration is still heavily weighted towards selling, reflecting ongoing uncertainties in the near term.

Elsewhere, the playing field in the Ethereum options market differs, as traders watch for a reversal. Open interest stands at 220,630 contracts, equivalent to $943 million in notional value.

The put-to-call ratio is 0.83, showing relatively stronger demand for buying (call contracts). The maximum pain level for Ethereum is $4,250. It stands slightly below its current price of $4,284, indicating that traders are centered around equilibrium.$BTC $ETH