ChainCatcher message, Greeks.live macro researcher Adam released today's options expiration data: 100,000 BTC options expire, Put Call Ratio is 0.73, maximum pain point is $115,000, notional value is $10.9 billion. 690,000 ETH options expire, Put Call Ratio is 0.77, maximum pain point is $3,800, notional value is $3.03 billion. Adam analyzes that, 'The theme of this week remains price correction, the rapid rise last Friday did not bring a sustained trend, both BTC and ETH have corrected more than 10% from their historical highs, but market sentiment remains relatively optimistic. This week, nearly $14 billion in options expiration accounts for more than 20% of the current total open interest, entering a volatile consolidation trend this month.
From the main options data, there is a significant rebound in implied volatility, with BTC's short to medium-term IV around 35%, ETH's main term IV below 70%, and short-term IV dropping to 60%, with IV volatility entering a tug-of-war. Meanwhile, there have been many block trades this month, with an especially noticeable increase in the proportion of bearish block trades; today, bearish options block trade volume accounted for 35% of total trading volume, setting a new high for the past few months. There are a large number of protective block trades, and overall, the options market lacks confidence in September's market.
