Greeks.live: The sharp downward trend of Bitcoin and Ethereum continues, with put options dominating the market.
BlockBeats News, February 6 — Greeks.live posted on social media that "On February 6, the options expiration data shows: 33,000 BTC options are expiring, with a Put Call Ratio of 0.54, a maximum pain point at $80,000, and a notional value of $2.1 billion. Additionally, 219,000 ETH options are expiring, with a Put Call Ratio of 0.91, a maximum pain point at $2,400, and a notional value of $420 million.
The crypto market has experienced a bloodbath, with BTC briefly dropping below $60,000 and ETH briefly falling below $1,750 today. Today, options representing 10% of total holdings are expiring, totaling nearly $2.6 billion. The sharp decline in Bitcoin and Ethereum prices continues, with put options dominating the market. The fear index once dropped to 5%, and panic has once again engulfed the crypto market.
Looking at the main options data, the implied volatility (IV) for BTC and ETH has risen significantly. The main-term IV for BTC exceeds 60%, with several short-term at-the-money IV over 110%. ETH’s main-term IV is at 80%, with multiple short-term at-the-money IV over 120%, all reaching the highest levels in over a year. This week, the volume and proportion of large block trades in put options remain high. Market makers are actively taking on put demand, showing strong willingness to trade. The brief bottom-fishing attempts are overwhelmed by the downward wave."
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