While the leading cryptocurrency Bitcoin rose above $ 44,000 again, all eyes turned to Bitcoin and Ethereum options that will expire today.
According to the news of Singapore-based crypto options data platform Greeks.live, 25,000 BTC and 217,000 ETH options will expire.
Accordingly, while the Put/Call Ratio of BTC options is 0.70, the maximum loss point is $42,000 and the notional value is $1.11 billion.
Looking at Ethereum, ETH options have a Put/Call Ratio of 0.60, a maximum loss point of $2,200, and a notional value of $490 million.
Stating that current signals point to a potential collapse, Greeks.live said:
“With cryptocurrencies pushing higher this week, the BRC market holding on, lending rates continuing to rise, a large number of protective put options being traded, all signals point to the risk of a potential crash.
“When we look at the option data, we see that option positions have shifted to next year’s maturities on a larger scale, especially due to the potential expectations of ETFs, positions are higher in January than in previous years, and large-scale changes are still continuing.”
The put/call ratio is calculated by dividing the number of put options by the number of call options. A ratio below 1 means there are more purchases than puts, indicating an upward trend.
A ratio above 1 means there are more put options than call options, indicating a bearish trend. A ratio close to 1 means the market is balanced or neutral.
For Bitcoin, this rate is 0.70; For Ethereum it appears as 0.60. Accordingly, although these rates are closer to the 1 level, they indicate an upward trend for BTC and ETH. However, time will tell how these rates, along with other data and signals, will affect prices.
Dec 22 Options Data
25,000 BTC options are about to expire with a Put Call Ratio of 0.70, a Maxpain point of $42,000 and a notional value of $1.11 billion.
217,000 ETH options are about to expire with a Put Call Ratio of 0.60, a Maxpain point of $2,200 and a notional value of… pic.twitter.com/1bSmZnryFP— Greeks.live (@GreeksLive) December 22, 2023
*This is not investment advice.
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Source: https://en.bitcoinsistemi.com/a-large-number-of-options-expire-today-in-bitcoin-and-ethereum-what-does-the-data-point-to/