Odaily Planet Daily reports that Greeks.live posted on X that options expiration data for March 6 showed 32,000 Bitcoin options expired, with a Put/Call Ratio of 1.69, the maximum pain point at $69,000, and a notional value of $2.3 billion; 184,000 Ethereum options expired, with a Put/Call Ratio of 0.85, the maximum pain point at $1,950, and a notional value of $380 million.
The crypto market saw a rebound this week, with Bitcoin firmly holding above the $70,000 psychological level and now aiming for $75,000. However, options market data shows that selling call options has become the dominant trading strategy over the past two days, indicating that although prices continue to rise, momentum is slowing. Tomorrow, options representing 7% of total open interest expire—among the lowest levels recently—while Bitcoin’s open interest reaches its recent peak. Thanks to the recent rally, implied volatility for both Bitcoin and Ethereum has risen this week, with Bitcoin’s primary term IV at 55% and Ethereum’s at 75%.