Key Points
- 24,000 BTC options and 157,000 ETH options are set to expire today.
- BTC is trading above $57,000 and ETH is priced above $3,000.
The latest reports from Greeks.live reveal July 12 Bitcoin and Ethereum options expiration data.
24,000 BTC options will expire today with a Put Call Ratio of 1.08, a Maxpain point of $58,500, and a notional value of $1.4 billion.
Also, 157,000 ETH options are about to expire today with a Put Call Ratio of 0.37, a Maxpain point of $3,100, and a notional value of $490 million.
Crypto markets rebounded slightly this week, with all major term IVs retreating sharply to new lows since March of this year.
Perfect Entry Point for Sellers
According to the same reports from Greeks.live, quarterly delivery overlaid with intense volatility created the perfect entry point for sellers.
Options sellers have built up their positions heavily during the course of this week and this triggered a need to depress major term IVs.
The atmosphere of the crypto market is not an optimistic one, with news of the Ethereum ETFs still being delayed.
Also, we have the prevailing view that even if the ETH ETFs go live on the market as expected, they are not seen as bringing in money too quickly.
According to reports, the US stocks are weaker today, and the entire risk asset market is counting on a rate cut in September that would be able to come to the rescue.
Yesterday’s release of the June CPI report showed eased data, with the unadjusted annual core CPI rate for June of 3.3%, below the market expectations of 3.4%. This is the lowest level since April 2021.
Also, the seasonally adjusted monthly core CPI rate for June was 0.1%, below the market expectation of 0.2%, marking the lowest level since August 2021.
BTC Trades Above $57K and ETH Is Priced Above $3k
At the moment of writing this article, BTC is trading above $57,000, down by over 1% today.
Yesterday, the price of the coin spiked above $59,000 following the CPI report.
Regarding Ethereum’s price today, at the moment of writing, the coin is trading close to $3,080. ETH is down by over 1% today.
On July 11, ETH traded close to $3,200 ahead of a drop in price near $3,100.
