Greeks.live: BTC and ETH options worth nearly $2.9 billion settle today, with put options dominating

Odaily Planet Daily reports that Greeks.live posted on the X platform that 38,000 BTC options have been settled, with a Put-Call Ratio of 0.71. The maximum pain point is $74,000, with a notional value of $2.5 billion. Additionally, 215,000 ETH options have been settled, with a Put-Call Ratio of 0.82. The maximum pain point is $2,100, with a notional value of $410 million.

The crypto market continues to decline, with the maximum pain point dropping rapidly. Today’s options settlement accounts for 9% of the total open interest, with a total value of nearly $2.9 billion. Implied volatility for Bitcoin and Ethereum has decreased this week, with BTC’s main-term IV dropping to 50% and ETH’s to 70%. Although the downward price trend has slowed, market confidence remains weak.

From trading activity, put options dominate. After the market declined again yesterday, some bottom-fishing behavior has begun to appear. Key options indicators show that skew is rebounding, and the proportion of call options in block trades is increasing.

The market remains in a bearish phase, but the most severe decline has ended. Currently, the crypto market lacks incremental capital, and it is too early to discuss a bull market or a significant rebound.