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Significant BTC and ETH Options Set to Expire Today

Fri, 06/02/2023 - 08:46
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Alex Dovbnya
As market shifts into June, noteworthy amount of Bitcoin (BTC) and Ethereum (ETH) options are on cusp of expiration, according to recent tweet by Greeks.live
Significant BTC and ETH Options Set to Expire Today
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As we enter the month of June, a significant number of Bitcoin (BTC) and Ethereum (ETH) options are set to expire, according to a recent tweet by Greeks.live.

The data indicates that 22,000 BTC options are set to reach their expiry with a put-call ratio of 0.71, a max pain point of $27,000 and a notional value of $590 million.

Meanwhile, a staggering 131,000 ETH options are also nearing expiration, sporting a put-call ratio of 1.00, a max pain point of $1,850 and a notional value of $2.45 million.

This considerable options expiry comes as implied volatility (IV) for all major terms hits a new all-time low. Ultra-short-term IV is closing in on an ultra-low level of 30%.

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This is indicative of decreased price fluctuation and market risk, implying that the market participants are bracing themselves for a possible low volatility phase on the crypto market.

On another note, Greeks.live's analysis suggests that the proportion of bearish options positions has increased significantly.

This trend suggests that options market participants are growing more skeptical about the short-term prospects of both Bitcoin and Ethereum.

Absent any major funds inflows or hot news to stimulate bullish momentum, market sentiment is likely to remain subdued.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.