Key Points
- 18,000 Bitcoin options and 140,000 Ethereum options are about to expire today.
- BTC is trading above $61,000 and ETH is priced above $2,600.
An official announcement from Greeks.live reveals the August 23 options data.
18,000 Bitcoin options are set to expire today, with a Put Call Ratio of 0.83, a Maxpain Point of $60,000, and a notional value of $1.12 billion.
Also, 140,000 Ethereum options will expire with a Put Call Ratio of 0.93, a Maxpain Point of $2,625, and a notional value of $370 million.
Greeeks.live notes that according to the latest options data, positions in weekly options continue to fall. Also, positions represent just under 7% of the total this week.
A Relatively Calm Market With No IV Elevation
Regarding the important macro events this week, there was no significant IV elevation during the central banks’ meeting.
According to reports from Reuters, on August 22, Federal Reserve Bank of Philadelphia President Patrick Harker said that he was on board with a September rate cut, as long as the data performs as expected.
The week’s macro events and data didn’t trigger significant waves, and the historical volatility (RV) of digital assets continues to decline.
The crypto market is relatively flat, and according to the same notes, waiting is the best strategy at the moment.
Options data released today suggests that the market is in a calm cycle, with a solid structure and a gradually decreasing expectation of future volatility in the options market, Greeks.live notes.
The crypto market expects more important speeches at the central banks’ meeting today that might affect the trajectory of Bitcoin’s price.
Bitcoin Trades Above $61,000 and Ethereum Above $2,600
Regarding the price of Bitcoin today, at the moment of writing this article, BTC is trading above $61,000, up by almost 1% in the past 24 hours.
BTC’s price is expected to be potentially affected by today’s Fed Chair Jerome Powell’s speech on the economic outlook at the annual Jackson Hole Economic Symposium. Also, the Bank of England Governor, Tony Blair, is expected to deliver a speech at the event.
As for Ethereum, the price of the second-largest digital asset by market cap is currently above $2,600, up by over 2% in the past 24 hours.
