BTC options worth $1.97 billion notional and ETH options worth $280 million notional will expire today

Odaily News Adam, an analyst at Greeks.live, posted on the X platform that 23,000 BTC options will expire on April 18, with a Put Call Ratio of 0.96, a maximum pain point of $82,000, and a nominal value of $1.97 billion. 177,000 ETH options expire, with a Put Call Ratio of 0.84, a maximum pain point of $1,600, and a nominal value of $280 million. In addition, Adam analyzed that the market was much milder this week, and Trump did not release as much news this week, and the market cooled down immediately. At present, the short-term RV is only 30%, and the IV has also dropped sharply this week, falling below 40%. The medium- and long-term RV is between 50% and 60%, and the IV is concentrated around 50%. It is expected that the trade war and tariff war are far from over, and the uncertainty in the market will continue for a long time, and the volatility in the market will also continue for a long time. The delivery volume accounts for less than 10% of the total position, and PCR has been maintained at a high level recently, reflecting that the market's concerns about the decline have obviously overwhelmed the expectation of the rise. The open interest of options in April and June remained at around 25%, and the market structure was relatively stable, with a high possibility of sideways trading. However, now is the painful period when the bull market turns to the bear market, and investor sentiment is relatively low. In this poor market, the probability of a black swan will increase significantly, and buying some deep out-of-the-money puts would be a good choice.