According to Huoxing Finance, on August 7, Greeks.live macro researcher Adam released today’s options expiration data: 32,000 BTC options expired, with a Put/Call Ratio of 0.26, a maximum pain point at $64,000, and a notional value of $2.06 billion. 177,000 ETH options expired, with a Put/Call Ratio of 0.77, a maximum pain point at $1,900, and a notional value of $340 million. Bitcoin has continued to trade around $64,000 this week, oscillating for over two months; the price zone above $65,000 represents the dense trading area from the year’s initial rally. Currently, global market focus is not on cryptocurrencies, and speculative capital is unlikely to flow in—downward direction may be favored. From key options data, 9% of options expired this week—a significant proportion—with a higher concentration of out-of-the-money call positions, resulting in relatively dispersed Gamma Exposure (Gex). Put positions remain minimal, and Gex on the downside is relatively concentrated. Bitcoin’s PCR remains at a low level of 0.26, with extremely low open interest in put options.
Over $2.4 billion in BTC and ETH options expire today
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Summary
Options trading activity surged on August 7, 2026, as over $2.4 billion in BTC and ETH options expired. According to data from Greeks.live, 32,000 BTC options with a notional value of $2.06 billion and a put/call ratio of 0.26 expired, while 177,000 ETH options with a notional value of $340 million and a put/call ratio of 0.77 expired. Bitcoin held near $64,000, with price action flat for over two months. Weekly options expiries accounted for 9% of the total, reflecting a high volume of out-of-the-money long calls and weak put positions. Options strategy focus remains on volatility and directional bias.
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