TechFlow news — On September 27, Adam, macro researcher at Greeks.live, posted on X stating that 89,000 BTC options are set to expire, with a Put/Call Ratio of 0.64, a maximum pain point at $59,000, and a notional value of $5.8 billion. Meanwhile, 718,000 ETH options are expiring, with a Put/Call Ratio of 0.47, a maximum pain point at $2,500, and a notional value of $1.9 billion.
Adam further analyzed that today marks the quarterly expiry day. The crypto market has seen a strong rebound over the past three weeks, primarily driven by the Fed's 50-basis-point rate cut, which significantly boosted market confidence. As Q3 comes to an end, historical data suggests that Q4 typically performs well. This year’s fourth quarter will include the U.S. election and two anticipated rate cuts, creating abundant trading opportunities.
During the quarterly settlement period, large-scale position rollovers and margin releases have driven implied volatility (IV) across major tenors to low levels. With the quarterly expiry concluding, IV may still face downward pressure. Therefore, Adam believes the next two weeks present a favorable window to position for the Q4 market.
