May 24 Options Data
21,000 BTC options are about to expire with a Put Call Ratio of 0.88, Maxpain point of $67,000 and notional value of $1.4 billion.
350,000 ETH options are about to expire with a Put Call Ratio of 0.58, Maxpain point of $3,200 and notional value of $1.3 billion.
ETH took over the BTC rally, inspired by the ETF progress, there was a one-day 20% rise, short-term option IV reached 150% at one point, much higher than the current IV of BTC for the same period. Now the divergence between BTC and ETH is obvious, from the Block trading and market trading structure, ETH's bullish sentiment is still strong, but it is difficult to maintain a high level of IV for each major term, calendar spreads will be the better choice. On the contrary, BTC is more balanced between long and short, selling call forces are stronger.
350,000 ETH options are about to expire with a Put Call Ratio of 0.58, Maxpain point of $3,200 and notional value of $1.3 billion.
ETH took over the BTC rally, inspired by the ETF progress, there was a one-day 20% rise, short-term option IV reached 150% at one point, much higher than the current IV of BTC for the same period. Now the divergence between BTC and ETH is obvious, from the Block trading and market trading structure, ETH's bullish sentiment is still strong, but it is difficult to maintain a high level of IV for each major term, calendar spreads will be the better choice. On the contrary, BTC is more balanced between long and short, selling call forces are stronger.
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