Key Points
- Today, 107,000 Bitcoin options and 1.04 million Ethereum options are set to expire.
- BTC trades above $61,000 and ETH is priced over $3,400.
According to the latest reports from Greeks.live, today, 107,000 Bitcoin options and 1.04 million Ethereum options expire.
BTC options are set to expire with a Put Call Ratio of 0.5, a Maxpain point of $57,000, and a notional value of $6.6 billion.
ETH options are expiring with a Put Call Ratio of 0.59, a Maxpain point of $3,100, and a notional value of $3.6 billion.
According to the same reports, today is the quarterly delivery, with more than $10 billion in national value of options expiring.
June has been a heavy month for the crypto market which saw increased volatility, and a more pessimistic atmosphere as BTC and ETH prices approached the Maxpain point. So far, investors used to believe that this was impossible to reach, according to Greeks.live.
However, despite the volatility in the market, the IV of BTC and ETH did not show a significant rise, with BTC below 50% IV for all major terms and ETH below 60% IV for all major terms, both of the coins being at low levels.
According to the same notes, the Ethereum ETFs launch is approaching and will probably start trading sometime in July. The IV will be under strong downward pressure for a few days following today’s delivery.
This means that it will be a cost-effective option to buy some call options while the IV is still low.
BTC trades above $61,000 and ETH above $3,400
At the moment of writing this article, BTC is trading above $61,000 after reaching earlier prices above $62,000. The coin is up by almost 1% today.
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BTC has been seeing increased volatility during the last 24 hours as the crypto industry watched closely the Trump-Biden Presidential debate which was expected to bring up the crypto subject as well, which failed to happen.
Regarding the price of ETH today, the coin is now trading above $3,400.
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Ethereum ETFs are just around the corner according to analysts’ predictions, and they are expected to be launched sometime around July 2-4.