$274 million worth of BTC and ETH options settled on September 4

ME News report, September 4 (UTC+8): Option settlement data for September 4 shows that 29,600 BTC options expired, with a Put/Call Ratio of 0.65, a maximum pain point at $73,000, and a notional value of $2.39 billion. Additionally, 139,000 ETH options expired, with a Put/Call Ratio of 0.9, a maximum pain point at $2,400, and a notional value of $350 million. Analysis indicates that after a significant rally two weeks ago, Bitcoin has been consolidating near $80,000, typically experiencing brief rapid rallies followed by slow sideways declines in a recurring cycle. Monthly realized volatility (RV) rose further to 40% compared to last week, while monthly implied volatility (IV) declined to 36%. The 15-day VRP briefly dropped to -16% yesterday but has since rebounded to -6%, still notably lower than last month’s high of 15%. Looking at other key options data, 7% of options expired this week; BTC open interest increased while ETH open interest declined, and overall trading activity surged significantly. Bullish GEX has gradually converged, with short call positions accumulating above $80,000, while bearish GEX is nearly negligible. After a 10-month bear market, this bull phase has lasted nearly three weeks, and the brief calm in U.S. equities has provided the crypto market with a respite. Market sentiment is highly optimistic; with monthly out-of-the-money IV still relatively low, directional long positions remain worthwhile. (Source: PANews)