TechFlow News: On March 26, according to Greeks.live (@GreeksLive), tomorrow will mark the largest options expiry date of Q1 2024, with nearly 40% of options expiring simultaneously. BTC’s maximum pain point is at $75,000; however, the current market struggles to reach this level. The put/call ratio remains around 0.6, indicating an overall bearish sentiment.
Regarding volatility, front-end implied volatility (IV) remains strong as the expiry approaches; however, IV is highly likely to drop sharply (“IV Crush”) after settlement. Short-term options buyers face severe time-value decay, giving sellers a clear advantage.
On-chain data from Deribit’s block trades today shows institutional “smart money” actively adjusting positions—closing out large volumes of contracts expiring tomorrow while concentrating purchases of out-of-the-money (OTM) call options for June and September expiries, betting on a medium- to long-term price rebound.
