Total $1.47 billion in crypto options expire today, Bitcoin's actual volatility continues to decline this week

Odaily News Greeks.live researcher Adam stated on the X platform that on August 14, 20,000 Bitcoin options expired, with a Put Call Ratio of 0.84, a max pain price of $64,000, and a notional value of $1.29 billion. Additionally, 96,000 ETH options expired, with a Put Call Ratio of 0.95, a max pain price of $1,900, and a notional value of $180 million. Bitcoin continued to fluctuate around $64,000 this week, with actual volatility persistently declining. The realized volatility (RV) dropped to 25%, hitting an all-time low, successively breaking through the three interim lows of late October, late January, and early June. Implied volatility (IV) has also continued to fall, currently returning to levels seen in early October last year, with market sentiment in a state of compression.

Looking at other major options data, 6% of options expired this week, and open interest declined significantly, mainly due to last week's bargain-hunting trading volume turning into a wait-and-see stance this week. Call options open interest dropped noticeably, while Bitcoin's Put Call Ratio returned to normal levels, with put options open interest only slightly declining. The Gex in the call direction has further dispersed, and the Gex in the put direction has also begun to scatter, indicating that the market is in a comprehensive wait-and-see state. The cryptocurrency market has experienced a 10-month bear market, with weak performance in the third quarter, sustained selling pressure from U.S. investors, and frequent security incidents. Greeks.live researcher Adam stated that currently positioning some out-of-the-money options is a good choice.