TechFlow, September 5 — According to data disclosed by Greeks.live, BTC and ETH options with a total value of approximately $4.69 billion expired today, including:
30,000 BTC options expired, Put Call Ratio at 1.41, maximum pain point at $112,000, nominal value $3.4 billion.
300,000 ETH options expired, Put Call Ratio at 0.77, maximum pain point at $4,400, nominal value $1.29 billion.
Greeks.live analysis stated: "Bitcoin price correction has lasted nearly a month, while Ethereum's correction has continued for two weeks. Both BTC and ETH have pulled back over 10% from their all-time highs, and market sentiment has started shifting from optimistic to pessimistic. Weakness in the U.S. stock market and WLFI has intensified market skepticism, with bearish options block trades and trading volume占比 on the rise; risk-aversion is now the primary goal. From major options data, implied volatility has clearly rebounded—BTC's IV across tenors has returned to around 40%, while ETH's key tenor IV is slightly below 70%, entering a period of IV tug-of-war. Meanwhile, this month is the third-quarter settlement month. Historically, September performance tends to be relatively weak due to institutional roll-offs, settlements, and other factors, resulting in an overall weaker market. The options market generally lacks confidence in September's outlook."
