TechFlow news, Greeks.live researcher Adam released options settlement data for April 12:
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21,000 BTC options expired, Put Call Ratio at 0.62, maximum pain point at $69,000, with a notional value of $1.5 billion.
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230,000 ETH options expired, Put Call Ratio at 0.49, maximum pain point at $3,425, with a notional value of $800 million.
In addition, he stated that market volatility in the crypto space has significantly increased this week, with intense battles around $70,000 for BTC and $3,500 for ETH. However, IVs across major tenors have noticeably declined. Selling calls has consistently been the dominant trading activity this month, suggesting that the halving expectations may have been overly priced in. Recently, ETF fund inflows have slowed down, the market lacks new catalysts, and sentiment remains subdued. Selling medium- to long-dated options is indeed a relatively good strategy; however, due to the proximity of the halving event, buying short-term options is also worthwhile.
