Key Points:
According to Greeks.live, the Bitcoin options market is experiencing significant activity as 87,000 BTC options are about to expire. The Put Call Ratio stands at 0.88, indicating a slightly higher number of put options compared to call options.
The max pain point is set at $29,000, which suggests that the market may gravitate towards this price. The notional value of these options is a staggering $2.98 billion.
BTC has been the driving force in the market, reaching a new high for the year at $36,000 on October 24th. This surge in price has led to increased volatility, as reflected in the rising full-term implied volatility (IV).
However, despite the positive market sentiment, there has been notable selling activity from a large whale in the second half of the week, potentially impacting the continuation of the market’s upward trend.
Additionally, 880,000 ETH options are about to expire with a Put Call Ratio of 0.47, a max pain point of $1,650 and a notional value of $1.57 billion.
In a previous expiration on October 6th, 14,000 BTC options valued at $400 million and 200,000 ETH options valued at $330 million were set to expire.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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