On December 20, according to Greekslive data, 21,000 BTC options will expire today, with a Put Call Ratio of 0.87, a maximum pain point of $10,100, and a notional value of $2.4 billion.
173,000 ETH options will expire today, with a Put Call Ratio of 0.5, a maximum pain point of $3,750, and a notional value of $590 million.
Greekslive analyst adam stated that this week, BTC failed to break through $110,000 and entered a correction, which is a clearance of relatively aggressive leveraged long positions after standing firm at $100,000, and the adjustment of Altcoins has been ongoing for nearly a month. Based on past bull market experience, a major BTC correction will be followed by an Altcoin season, but the intensity of the BTC correction is still uncertain.
As the time approaches Christmas and the annual settlement, ETF funds have started to flow out significantly, and market makers are continuously adjusting their positions. Recently, the trading volume of large-volume call options has been relatively high, accounting for more than 30% of the daily trading volume. Over 40% of the options will expire at the end of the year, and the large amount of margin released will most likely drive a decline in implied volatility. The cost-effectiveness of buying options will be very high in the coming week.
