Today, BTC and ETH options with a nominal value of $2.27 billion expire, and the IV index drops sharply

BTC1,36%
ETH0,83%

Gate News updates: On April 10, according to Greeks.live data, today there are 27k BTC options set to expire, with a Put/Call Ratio of 0.71. The maximum pain point is $69,000, and the notional value is $1.94 billion. In addition, 151k ETH options are set to expire, with a Put/Call Ratio of 0.77. The maximum pain point is $2,050, and the notional value is $330 million. Greeks.live data shows that this week’s market action was driven by the news of a ceasefire between the U.S. and Iran, and Bitcoin broke above $72,000, surpassing the recent sideways range. Bitcoin options market share has continued to stay above 80%, with open interest concentrated in contracts expiring at the end of April and at the end of June, and trading mainly focuses on the end-of-April monthly expiry. From the options data, Bitcoin’s main tenor IV (implied volatility) has dropped sharply; most tenors’ IV has fallen to around 40%. ETH’s main tenor IV has also declined to around 60%. Skew (the skewness indicator) has been rising continuously, but only modestly. The data indicates that this year’s Bitcoin price and market sentiment have been lackluster. This week saw a sustained rebound, but based on indicators such as capital flow, the crypto market is still being driven by other markets, and all indicators suggest the market is in an adjustment phase.

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