Options Data for May 17th
18,000 BTC options are about to expire with a Put Call Ratio of 0.63, a Maxpain point of $63,000 and a notional value of $1.2 billion.
320,000 ETH options are due to expire with a Put Call Ratio of 0.28, a Maxpain point of $3,000 and a notional value of $930 million.
The BTC ETF also reaped significant inflows this week, inspired by the Meme wave in the US, with BTC surging above $65,000. But crypto markets outside of Meme were weaker, with volume continuing to fall, as evidenced by the divergence in options data for BTC and ETH.
From the Block and market trading structure, the IV downtrend in all major terms ended into a sideways trend, and there is not much room to fall at the moment. Btc is more balanced between long and short, while the ETH price is weak leading to continued weakening of the market confidence, and selling calls has become the absolute main deal.
The current IV under the seller's cost-effective general, timing to buy will be a better choice, more recommended to pay attention to the ETH BTC rate pair trading.
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