Analyst: $2.14 Billion Worth of Options Set to Expire Today in Bitcoin, Outperforming Significantly in Price and Interest Compared to the Previous Three Months

BlockBeats News, May 1st, according to Greeks.live data, there were a total of 23,000 BTC options expiring on May 1st, with a Put Call Ratio of 1.13, a max pain price of $76,000, and a notional value of $17.4 billion.

In addition, 175,000 ETH options will also expire today, with a Put Call Ratio of 0.94, a max pain price of $2325, and a notional value of $4 billion.

Analyst Adam from Greeks.live stated that this week saw relatively small price fluctuations, with Bitcoin hovering around $78,000. Market sentiment is gradually becoming more neutral, short-term Realized Volatility (RV) has decreased significantly, and the monthly expiration has released nearly a quarter of the position margin. The main term options' implied volatility saw a significant drop this week. Bitcoin's main term Implied Volatility (IV) has dropped below 40% across the board, while ETH's main term IV has dropped even more, with short-term IV falling below 50% and medium to long-term IV falling below 60%.

Looking at the main options data, Skew remains relatively stable, indicating a slightly bearish directional sentiment in the market. Only 6% of options will expire this week, with approximately 25% open interest by the end of May and about 30% open interest by the end of June. Large-scale transactions are relatively inactive, signaling a period of consolidation.

In April of this year, Bitcoin outperformed both in price and hype compared to the first three months. However, altcoin market performance has been somewhat limited in recovery. Currently, the focus is primarily on Bitcoin, while waiting is needed for altcoin opportunities.