Key Points
- 24,000 Bitcoin options and 184,000 Ethereum options expire today.
- BTC trades above $58,000 and ETH trades at $2,600.
August 16 Bitcoin and Ethereum options data has been just released.
According to the latest reports from Greeks.live, 24,000 Bitcoin options are about to expire with a Put Call Ratio of 0.83, a Maxpain point of $59,500, and a notional value of $1.4 billion.
Also, 184,000 ETH options are about to expire with a Put Call Ratio of 0.80, a Maxpain point of $2,650, and a notional value of $470 million.
According to the same notes, this week’s expiring options represent about 10% of the total position and the August/September/December position is currently closer, a little over 20%.
From the options data, the options term distribution is relatively even, and the term structure of relatively solid, Greeks.live notes.
The recent options market is gradually lowering expectations of future volatility and the market will gradually enter a stable period.
Market Volatility Expectations Drop
According to another post of Greeks.live via X, considering the latest release of PPI and CPI showing lower-than-expected results, the market’s volatility expectations dropped significantly. This drove significant declines in IVs across all major maturities.
Short-term IVs declined by over 20% over this week, and mid to long saw a decline of around 5%.
Such a decline in implied volatility is relatively rare in the options market and the predominately institutional sellers could cover a lot of their profits in this round of declines, to make up for the hedging losses from the massive volatility in July.
Bitcoin Above $58K and Ethereum at $2,600
Regarding the price of Bitcoin today, at the moment of writing this article, BTC is trading above $58,000, up by 0.27% in the past 24 hours.
BTC was able to recover following a drop in price below $57,000 on August 15.
Ethereum is trading at $2,600 today, down by 0.4% in the past 24 hours. Yesterday, the coin’s price dropped to around $2,533 before a bounce back.
