【June 13 Options Expiration Data】

28,000 BTC options expired, Put Call Ratio is 0.9, maximum pain point at $106,000, nominal value of $2.93 billion.

244,000 ETH options expired, Put Call Ratio is 1.13, maximum pain point at $2,650, nominal value of $620 million.

Recent volatility has consistently occurred before weekly expirations. Due to Israel's attacks on Iran, market risk aversion has significantly increased, leading to a notable correction in cryptocurrencies.

Looking at the main delivery data, the delivery volume is about 8% of the total open interest, this ratio has declined again after rebounding last week. In terms of implied volatility, BTC's IV remains low, while ETH's IV has risen significantly, indicating more room for volatility strategies focused on ETH.

As both IV and RV continue to decline, this week's VRP has remained high, indicating a drastic decrease in RV. The need for a larger safety cushion is causing this, serving as a hallmark signal of extremely low market volatility. Following today's adjustments, VRP has decreased but remains at a high level.

Combined with block trading data, the main players are currently increasing their positions in put options, entering a defensive phase.