Friday is options expiration day again. Data shows that expiring Bitcoin and Ethereum options contracts have a total size of $2.22 billion, with Ethereum accounting for $384 million and Bitcoin reaching $1.84 billion.
Looking at the Ethereum side: the Put/Call ratio is 0.89, indicating that bullish sentiment has a slight edge. The maximum pain price is set at $3,100, and above the $3,000 level there is a considerable concentration of bullish options positions—this level deserves close attention.
The Bitcoin situation is more interesting. The Put/Call ratio is 1.05, with bearish sentiment leading slightly. The maximum pain price is pinned at the $90,000 round number—and a "pin risk" has formed here. How to understand this? Below $85,000, put options are heavily concentrated, while in the $90,000 to $100,000 range, call options gradually increase. With such a multi-directional distribution, the area around $90,000 is particularly prone to sharp volatility; traders need to be careful of the needle. Open interest volume is closely correlated with spot prices, so to anticipate trends in advance, keep a close eye on these key price levels.
Friday is options expiration day again. Data shows that expiring Bitcoin and Ethereum options contracts have a total size of $2.22 billion, with Ethereum accounting for $384 million and Bitcoin reaching $1.84 billion.
Looking at the Ethereum side: the Put/Call ratio is 0.89, indicating that bullish sentiment has a slight edge. The maximum pain price is set at $3,100, and above the $3,000 level there is a considerable concentration of bullish options positions—this level deserves close attention.
The Bitcoin situation is more interesting. The Put/Call ratio is 1.05, with bearish sentiment leading slightly. The maximum pain price is pinned at the $90,000 round number—and a "pin risk" has formed here. How to understand this? Below $85,000, put options are heavily concentrated, while in the $90,000 to $100,000 range, call options gradually increase. With such a multi-directional distribution, the area around $90,000 is particularly prone to sharp volatility; traders need to be careful of the needle. Open interest volume is closely correlated with spot prices, so to anticipate trends in advance, keep a close eye on these key price levels.