$930 Million Option Expires Today in Bitcoin and Ethereum! What is its Importance for BTC and ETH?

The leading cryptocurrency Bitcoin seems to have stabilized at $ 26,800 today after the declines this week.

At this point, as investors tried to predict Bitcoin’s next move, 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, 24,000 BTC and 190,000 ETH options will expire.

Accordingly, while the Put/Call Ratio of BTC options is 1.23, the maximum loss point is $27,000 and the nominal value is $640 million.

Looking at Ethereum, ETH options have a Put/Call Ratio of 0.71, a maximum loss point of $1,600, and a nominal value of $290 million.

🌊13 Oct Options Data
24,000 BTC options are about to expire with a Put Call Ratio of 1.23, a max pain point of $27,000 and a notional value of $640 million.
190,000 ETH options are about to expire with a Put Call Ratio of 0.71, a max pain of $1,600 and a notional value of $290… pic.twitter.com/CLu3NoqCiN

— Greeks.live (@GreeksLive) October 12, 2023

Interestingly, the share of put positions in Bitcoin remains high. As liquidity continues to dwindle in recent days, analysts said there are signs that significant market activity may be approaching.

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.

While this rate is 1.23 for Bitcoin, it is 0.71 for Ethereum. Accordingly, these rates indicate that there may be a downward trend for BTC and an upward trend for ETH. Time will tell how these rates will affect the price.

Bitcoin continues to trade at $26,770 at the time of writing.

*This is not investment advice.