Odaily Planet News: Deribit data shows that over $2.5 billion in cryptocurrency options will expire this Friday. Among them, the nominal value of Bitcoin options is $2.15 billion, with a put/call ratio of 1.42 and a maximum pain point of $82,000; the nominal value of Ethereum options is $408 million, with a put/call ratio of 1.13 and a maximum pain point of $2,550.
Data shows that Bitcoin's open interest is heavily concentrated in the strike price range of $80,000 to $90,000. Higher put option activity indicates that traders have taken a defensive stance amid market volatility. Ethereum's positions are mainly concentrated around the mid-$2,000 strike price, with strong put open interest below the spot price and active call option interest on the upside. Analysts note that with rising demand for protection and volatility repricing, this expiration may bring a short-term reset to market makers' hedging cash flows. After expiration, the "gravitational" influence of large strike price positions may weaken, and the price movement after expiration may differ from the days leading up to it.