Deribit: Over $2.5 billion worth of Bitcoin and Ethereum options will expire this Friday

Crypto界网 February 5 News, according to Deribit data, over $2.5 billion in cryptocurrency options will expire this week. Among them, Bitcoin options have a notional value of $2.15 billion, with a put/call ratio of 1.42, and the maximum pain point at $82,000; Ethereum options have a notional value of $408 million, with a put/call ratio of 1.13, and the maximum pain point at $2,550. Data shows that Bitcoin open interest is heavily concentrated in the $80,000 to $90,000 strike price range, with higher put option activity indicating traders are taking a defensive stance amid market volatility. Ethereum holdings are mainly centered around the mid-$2,000 strike prices, with strong open interest in put options below the spot price, while there is also active interest in call options on the upside. Analysis indicates that as market demand for protection increases and volatility is re-priced, this expiration could cause a short-term reset in market maker hedging flows. After expiration, the “attraction” around large strike prices may weaken, and the price trend after expiration could differ from the few days before expiration.