According to Deribit data, BTC options and ETH options with a total nominal value of approximately $5.01 billion will expire tomorrow. Among them, the nominal value of BTC options that are about to expire is $3.66 billion, the Put Call Ratio is 0.59, and the maximum pain point is $61,000; the nominal value of ETH options that are about to expire is $1.35 billion, the Put Call Ratio is 0.49, and the maximum pain point is $2,800.
The maximum pain point price of the option is for the buyer, which makes the buyer's profit the smallest and the loss the largest, or the seller's loss the smallest and the profit the largest.
The maximum pain point of option delivery has a certain impact on the BTC trend. When the delivery option is about to expire, if the current price is close to the maximum pain point price, then the main force will try to make the current price as close to the maximum pain point price as possible, so that the main force's profit and loss ratio is the highest and most profitable when the option is delivered. If the price difference between the two is too far, then the main force will pull to the maximum pain point of delivery. This position consumes a lot of costs, the cost is too high, and the profit and loss ratio is too small, then the main force will give up the maximum profit of this delivery. As far as this delivery is concerned, it doesn’t seem to be too difficult to pull it up from more than 59,000 to the maximum pain point of 61,000. The main force doesn’t know whether to pull it up. However, judging from the option expiration delivery on the 16th, Bitcoin fell more than 3,000 points on the night of the 15th, and it was not pulled to the maximum pain point during the delivery. So how will the main force perform in this delivery? Let’s wait and see! $BTC