TechFlow reports, according to monitoring by [email protected], 29,000 BTC options are expiring, with a Put Call Ratio of 0.58, maximum pain at $37,000, and a notional value of $1.13 billion.
230,000 ETH options are expiring, with a Put Call Ratio of 0.49, maximum pain at $2,100, and a notional value of $470 million.
Crypto market volatility has significantly declined this week. After last week's monthly settlement, BTC has attempted to break above $38,000 three times consecutively but ultimately failed to hold the level.
From the options data, we can see that the low Put Call Ratio indicates trading activity was primarily concentrated in call options this week, with maximum pain close to the strike price. As upward momentum weakens, sellers have started increasing their sell-call positions, causing the options skew level to gradually decline. Fewer investors expect a short-term sharp rally, and market optimism for price increases is now largely focused on the January ETF approval.
