Deribit Data: BTC and ETH Options with a Nominal Value of Over $2.1 Billion Expiring Today

On April 17, according to Deribit data, a total nominal value of $2.1 billion in BTC and ETH options contracts will expire today.

Among them, Bitcoin options expiring amount to approximately 21.9k contracts, with a put-to-call ratio of 1.07, the maximum pain point price at $72,000, and a nominal value of $21.9k;

On the same day, Ethereum options expiring amount to 196.1k contracts, with a put-to-call ratio of 0.96, the maximum pain point price at $2,250, and a nominal value of about $459 million.

From the spot market perspective, the market has continued to rebound this week, with Bitcoin price maintaining around $75,000 with fluctuations, and some concept sectors showing significant gains. Meanwhile, Bitcoin options market share has slightly declined, and altcoin market conditions have also improved.

Analyzing open interest durations, 70% of open contracts in the options market this month are concentrated between April 24 and June 26, with late April and late May being two key deadline points.

Regarding volatility, the implied volatility for major Bitcoin maturities has sharply decreased to around 40% this month, while Ethereum's implied volatility for major maturities has fallen to around 60%. Short-term implied volatility has slightly increased this week, but medium- and long-term implied volatility continues to decline.

Market sentiment indicators show that the Skew indicator (measuring risk bias in the options market) has been rising steadily, weakening the bearish atmosphere and indicating that opportunities are beginning to emerge. However, Bitcoin still performs poorly in both price and popularity this year.

Overall, although the ongoing rebound this month has created some structural opportunities, analysis of capital flows and other indicators suggests that the cryptocurrency market still exhibits characteristics of a bear market.

#Options Expiration Dates