October 4, 2024 – A significant amount of Bitcoin (BTC) options, valued at approximately $1.07 billion, is scheduled to expire and be delivered today. According to researcher Adam from Greeks.live, a total of 17,500 BTC options are involved in this expiration, characterized by a Put Call Ratio of 0.75 and a maximum pain point at $63,000.
In addition to the BTC options, there are 119,000 ETH options also set to expire today, with a Put Call Ratio of 0.68, a maximum pain point of $2,500, and a nominal value of $280 million.
Adam noted that this week has seen a surge of interest in A-shares and Chinese concept stocks, while the cryptocurrency market has remained relatively weak. Even with Hong Kong stocks experiencing broad gains, blockchain-related stocks have trended downward, highlighting the current fragility of the crypto market.
Despite the present sluggishness, historical data suggests that the fourth quarter typically sees improved market performance. Adam believes this is an opportune moment for investors to build positions, particularly for medium to long-term bullish strategies. He points out that the implied volatilities (IVs) across major periods are at their average levels from the past year, indicating potential stability. With the U.S. elections on the horizon, the IVs are expected to maintain support, making the last two weeks a strategic time for planning investments for the fourth quarter.
