As a professional option trader, it is important to stay up-to-date on the latest market developments. Recently, GreeksLive tweeted that 46,000 Bitcoin options and 288,000 Ethereum options are set to expire soon. This could have significant implications for the cryptocurrency market price and volatility levels of both coins in the coming days.
The Put Call Ratio (PCR), a key metric used to measure investor sentiment towards an asset class or particular security can provide insight into how traders may be positioning themselves ahead of these expirations. According to data from GreeksLive’s platform, the PCR currently stands at 1.11 for Bitcoin and 1.12 for Ethereum – indicating that investors are more likely betting on downside protection through put options rather than upside potential with call options in anticipation of these expirations taking place soon . Additionally , we can see from their tweet that there is also a Max Pain Point associated with each expiration – $23K for BTC & $1 550 ETH – which suggests where traders feel prices will end up after expiration takes place .
Lastly , another useful statistic provided by Greek Live’s platform was notional value; this provides us with an indication as to how much money has been invested into each option contract prior its expiration date . The notional value stood at approximately $1 18 billion USD worth of BTC contracts & 490 million USD worth ETH contracts respectively ; suggesting large sums being betted against either side depending upon whether one believes prices will move higher or lower post-expiration .
In conclusion , it appears as though there could be some interesting movements ahead within crypto markets due largely thanks to upcoming expiries occurring over next few days ; understanding key metrics such as PCR & Max Pain Points along w/notional values should help give us better idea what direction markets might take once they do occur !
