Bitcoin and Ethereum Options with a Notional Value of $26.8 Billion Set to Expire on March 6

Odaily News: Greeks.live posted on platform X that data for the March 6 options expiration shows 32,000 Bitcoin options are expiring, with a Put Call Ratio of 1.69, a max pain point of $69,000, and a notional value of $2.3 billion. Meanwhile, 184,000 Ethereum options are expiring, with a Put Call Ratio of 0.85, a max pain point of $1,950, and a notional value of $380 million.

The crypto market has seen a rebound this week, with Bitcoin firmly holding above the $70,000 mark and currently poised to challenge $75,000. However, looking at options market data, selling call options has become the dominant trading activity over the past two days. Despite the ongoing price increase, the momentum has slowed. Tomorrow, options accounting for 7% of the total open interest are set to expire, which is nearly the lowest level in recent times. Concurrently, Bitcoin's share of open interest has reached a recent peak. Benefiting from the recent rebound, the implied volatility (IV) for Bitcoin and Ethereum has risen this week. The major-term IV for BTC is around 55%, while for ETH it is around 75%.