According to PANews, analysis by Greeks.live analyst Adam reveals that on May 9, approximately 26,000 Bitcoin (BTC) options and 165,000 Ethereum (ETH) options are set to expire, with a nominal value of $2.67 billion and $360 million, respectively. The maximum pain point for BTC options is $94,000, with a Put Call Ratio of 1.05, while for ETH options, it is $1,850, with a Put Call Ratio of 1.42.
Recently, both BTC and ETH have experienced strong rebounds, with Bitcoin surpassing $100,000 and Ethereum rising by 20% in a single day to over $2,200. The implied volatility (IV) and realized volatility (RV) for major BTC maturities remain around 45%. In contrast, ETH's short-term IV has exceeded 100% due to its sharp rebound.
The current expiration volume accounts for less than 10% of the total open interest, with many previous bearish options expiring worthless. Market sentiment has shifted towards optimism, with a significant increase in the proportion of call options set to expire in June.
