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Greekslive: Today, 21k BTC options and 129k ETH options expire
Deep Tide TechFlow News, May 22, according to Greekslive, today 21k BTC options expire, Put Call Ratio is 0.66, maximum pain point is $78,500, notional value is $1.6 billion; 129k ETH options expire, Put Call Ratio is 0.92, maximum pain point is $2,200, notional value is $280 million.
This week, BTC ended a one-and-a-half-month rebound, market sentiment is flat, BTC and ETH expiring options each account for only about 5%. BTC's maximum pain point is close to the current price, with a strong Gamma/Pin effect; ETH's delivery volume is half of last Monday, the current price is below the maximum pain point, and short-term IV is likely to decline after delivery.
Main-term IVs are broadly declining, BTC has fallen below 35%, ETH below 50%, and VRP has increased. In terms of block trades, whales are concentrated on laying out a bearish May-end 75K/71K put spread, with a total notional value of nearly $21k. Overall volatility expectations are relatively low, and market activity is below expectations.