BTC and ETH Options Expiration Event Unfolds Today
A significant options expiration event is unfolding today, July 24, for Bitcoin (BTC) and Ether (ETH). According to Adam@Greeks.live, a macro researcher at Odaily's Greeks.live, options with a total notional value of $1.43 billion are expiring, including 19,000 BTC options worth $1.2 billion and 125,000 ETH options worth $230 million.
The Put Call Ratio for BTC is 0.89, indicating more calls than puts, while the max pain point is at $64,500. For ETH, the Put Call Ratio is 1.25, showing a higher demand for put options, and the max pain point is at $1,875.
The market has seen low volatility and few trading opportunities in recent weeks, but Adam notes that 'robust demand' for put options suggests traders are preparing for potential price drops.