2026-01-09 07:33:33

There are quite a few highlights in today's options market. On the BTC side, 21,000 options are about to expire, with a put-call ratio of 1.07. The main pain point is around $90,000, involving a notional value of up to $1.9 billion. Turning to ETH, 126,000 options are pending settlement, with a Put Call Ratio of 0.88. The pain point price is at $3,100, with a notional value of $3.9 billion.

From a volatility perspective, BTC's implied volatility remains roughly at Christmas Eve levels, with little fluctuation. However, the situation is different for ETH, where implied volatility has noticeably declined. This indicates that the market's expectation for short-term sharp price swings is decreasing, and traders may be waiting for clearer directional signals.

BTC-0,79%

ETH-1,3%

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ServantOfSatoshi

· 01-12 07:30

The 90,000 level is a bit risky; it seems like big players are accumulating power.

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GweiTooHigh

· 01-11 22:35

How long can the 90,000 level hold? It seems like everyone is betting on this number.

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GasWrangler

· 01-11 17:56

ngl, if you actually analyze the data on that pcr spread, the real alpha's in the IV collapse on eth—that's mathematically superior to chasing those nominal values everyone's fixated on. most traders miss it.

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liquidation_surfer

· 01-09 08:01

$90,000 over there, wow, a notional value of 1.9 billion dollars... If the volatility can't be pushed up this time, it must be really frustrating.

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Layer2Arbitrageur

· 01-09 08:00

yo that 0.88 put/call on ETH is basically screaming delta neutral setup... 39B notional and IV tanking? someone's definitely positioning for the dump lmao

actually wait - if you're not arbing that volatility crush across CEX/DEX spreads you're leaving basis points on the table fr

BTC pinned at 90k is chef's kiss though, max pain mechanics do be different

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HappyMinerUncle