TechFlow news, June 13 — According to Greeks.live data, the crypto market faced a significant options expiry today, with 28,000 BTC options and 244,000 ETH options expiring, representing notional values of $2.93 billion and $620 million respectively. The BTC put/call ratio stood at 0.9, with the max pain point at $106,000; the ETH put/call ratio was 1.13, with the max pain point at $2,650.
Amid rising risk-aversion sentiment triggered by Israel's attack on Iran, cryptocurrency prices saw a notable pullback. Data shows that today's expiry volume accounted for about 8% of total open interest, down from last week.
In terms of volatility, BTC implied volatility remains low, while ETH implied volatility has risen significantly, offering more room for volatility-based strategies. Although the Volatility Risk Premium (VRP) declined slightly after today’s correction, it remains elevated, indicating extremely low market volatility.
Large transaction data indicates that major capital is increasing positions in put options, signaling that the market has entered a defensive phase.
