TechFlow News, July 17, according to monitoring by [email protected] (@BTC__options), July 17 options expiration data shows that 19,000 BTC option contracts expired, Put Call Ratio was 0.9, Max Pain $63,000, notional value $1.2 billion; 123,000 ETH option contracts expired, Put Call Ratio was 1.61, Max Pain $1,800, notional value $230 million.
BTC has been oscillating within the 60K to 65K range for over a month this week, market conditions are calm, and the severe volatility of US stock SpaceX and storage sectors had limited impact on the crypto market. BTC's GEX distribution is concentrated at 64K and 70K, ETH's GEX distribution is concentrated between 1825 and 2000, distribution is relatively scattered, indicating many traders are starting to attempt buying the dip with shallow out-of-the-money options.
It is worth noting that ETH's Put Call Ratio has exceeded 1 for a consecutive month and the ratio continues to rise, put positions remain at extremely high levels, and the battle between longs and shorts is evident. At the same time, block call option trades have seen explosive growth, with a total of 25,766 BTC worth of block call options traded in a single day, notional value $1.65 billion, among which nearly 10,000 sets of 70K/72K bull call spreads expiring at the end of this month were traded, serving as the main trading target.
