TechFlow, Aug 29 — Adam, macro researcher at Greeks.live, released today's options expiry data:
100,000 BTC options expired with a Put Call Ratio of 0.73, maximum pain at $115,000, and notional value of $10.9 billion.
690,000 ETH options expired with a Put Call Ratio of 0.77, maximum pain at $3,800, and notional value of $3.03 billion.
Adam analyzed: "The theme this week remains price correction. Last Friday’s sharp rally did not sustain momentum, with both BTC and ETH pulling back over 10% from their all-time highs, yet market sentiment remains relatively optimistic. This week sees nearly $14 billion in options expirations, accounting for over 20% of current open interest, as the month enters a phase of volatile oscillation.
From key options metrics, implied volatility has rebounded notably across the board. BTC’s short-to-medium-term IV hovers around 35%, while ETH’s major tenors remain below 70%, with short-term IV dropping to 60%. IV movement has entered a tug-of-war.
Meanwhile, there have been numerous block trades this month, with bearish block trades rising particularly sharply. Today, bearish options accounted for 35% of total block trade volume, marking the highest proportion in recent months. A large number of protective block trades are present, indicating that overall, the options market lacks confidence in September’s outlook."
