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2.8 Billion Dollars Will Be Affected in Bitcoin and Ethereum: Market Makers Cautious - Coin Bulletin
The total value of Bitcoin (BTC) and Ethereum (ETH) options expiring on the first Friday of December is approximately $2.87 billion.
According to the data from one of the largest exchanges, Deribit, a total of 23,000 Bitcoin contracts worth a total of 2.3 billion dollars will expire today. The put-call ratio of these options is 1.11, while the max pain level is at 97,000 dollars.
Max pain is the strike price with the most open option contracts. This price, when options expire, will cause the maximum number of option holders to experience financial loss. The put-call ratio shows the ratio between the call options and the put options in the market.
In addition to Bitcoin, the contracts of over 147,000 Ethereum worth more than $570 million are also expiring. Their put-call ratio is 0.62; the max pain level is $3,500.
Market makers are cautious
The option data of the last two weeks shows that market makers are more cautious. Bitcoin's reaching $100,000 and the subsequent correction led to a significant increase in short-term implied volatility (IV).
Derivatives analyst at Greeks.live, said, “This situation shows that the option market is quite favorable for short-term transactions at the moment.”
Market makers are concerned about a scenario reminiscent of the end of 2020 repeating. There is also a small increase in medium and long-term volatility rates. This indicates that market makers are moving more cautiously to minimize risk.
The total value of Bitcoin (BTC) and Ethereum (ETH) options expiring on the first Friday of December is approximately $2.87 billion.
According to the data from one of the largest exchanges, Deribit, a total of 23,000 Bitcoin contracts worth a total of 2.3 billion dollars will expire today. The put-call ratio of these options is 1.11, while the max pain level is at 97,000 dollars.
Max pain is the strike price with the most open option contracts. This price, when options expire, will cause the maximum number of option holders to experience financial loss. The put-call ratio shows the ratio between the call options and the put options in the market.
In addition to Bitcoin, the contracts of over 147,000 Ethereum worth more than $570 million are also expiring. Their put-call ratio is 0.62; the max pain level is $3,500.
Market makers are cautious
The option data of the last two weeks shows that market makers are more cautious. Bitcoin's reaching $100,000 and the subsequent correction led to a significant increase in short-term implied volatility (IV).
Derivatives analyst at Greeks.live, said, “This situation shows that the option market is quite favorable for short-term transactions at the moment.”
Market makers are concerned about a scenario reminiscent of the end of 2020 repeating. There is also a small increase in medium and long-term volatility rates. This indicates that market makers are moving more cautiously to minimize risk.
The total value of Bitcoin (BTC) and Ethereum (ETH) options expiring on the first Friday of December is approximately $2.87 billion.
According to the data from one of the largest exchanges, Deribit, a total of 23,000 Bitcoin contracts worth a total of 2.3 billion dollars will expire today. The put-call ratio of these options is 1.11, while the max pain level is at 97,000 dollars.
Max pain is the strike price with the most open option contracts. This price, when options expire, will cause the maximum number of option holders to experience financial loss. The put-call ratio shows the ratio between the call options and the put options in the market.
In addition to Bitcoin, the contracts of over 147,000 Ethereum worth more than $570 million are also expiring. Their put-call ratio is 0.62; the max pain level is $3,500.
Market makers are cautious
The option data of the last two weeks shows that market makers are more cautious. Bitcoin's reaching $100,000 and the subsequent correction led to a significant increase in short-term implied volatility (IV).
Derivatives analyst at Greeks.live, said, “This situation shows that the option market is quite favorable for short-term transactions at the moment.”
Market makers are concerned about a scenario reminiscent of the end of 2020 repeating. There is also a small increase in medium and long-term volatility rates. This indicates that market makers are moving more cautiously to minimize risk.