Deribit data: notional value over 5.6 billion USD in BTC and ETH Options will expire this Friday.

On July 17, news reports that this Friday (Beijing time tomorrow at 16:00), the market will face the expiration of over 5.6 billion USD in BTC and ETH Options.

According to current data from Deribit, the total open interest for BTC options this Friday is 41,208 contracts. Among them, the open interest for call options is 24,348 contracts, and the open interest for put options is 16,861 contracts, with a Put/Call Ratio of 0.69, corresponding to a notional value of nearly 4.885 billion USD. The current maximum pain price for BTC is 113,000 USD.

Meanwhile, the total open interest of Ethereum Options is 219,962 contracts. Among them, the open interest of call options is 109,574 contracts, and the open interest of put options is 110,388 contracts, with a Put/Call Ratio of 1.01, corresponding to a notional value of 763 million USD, and the current maximum pain price for ETH is 2,900 USD.

In summary, from the perspective of the Put/Call Ratio in the options market, current market participants show a short-term bullish tendency towards BTC options, while displaying a short-term bearish sentiment towards ETH options. This difference in indicators clearly reflects the starkly different viewpoints and expectations traders have regarding the short-term trends of the two major cryptocurrencies.

This divergent trend reflects the supportive effect of continuous inflows of funds into the BTC spot ETF, while also exposing the market's cautious attitude towards the short-term technicals of ETH. Meanwhile, the concentrated delivery on the options expiration date may exacerbate market volatility. Therefore, investors should be cautious of potential technical fluctuations around key psychological price levels (integer thresholds).

Finally, regarding the different outlooks on the current BTC and ETH Options market, what kind of risk management strategy would you adopt?

#Deribit # Options expiration #比特币 # Ethereum