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- Greeks.live reports 35,000 BTC options are about to expire with a Put Call Ratio of 0.49.
- According to Greeks.live, 270,000 ETH options are about to expire with a Put Call Ratio of 0.41.
- Options trading platform predicts Ethereum may take over as the leading force in the next phase of the crypto market rally.
The options traders’ toolkit platform, Greeks.live, has provided information about the expiring options of the two top cryptocurrencies, Bitcoin and Ethereum. Posting on X, Greeks.live noted that as of today, November 17, 35,000 BTC options are about to expire with a Put Call Ratio of 0.49.
17 Nov Options Data35,000 BTC options are about to expire with a Put Call Ratio of 0.49, a max pain point of $36,000 and a notional value of $1.28 billion.270,000 ETH options are about to expire with a Put Call Ratio of 0.41, a max pain point of $1,900 and a notional value of… pic.twitter.com/5HDuKMaCqU— Greeks.live (@GreeksLive) November 17, 2023
Greeks.live also reported a Bitcoin maximum pain point of $36,000 and a notional value of $1.28 billion. Moreover, the options trading platform posted that 270,000 ETH options are about to expire with a Put Call Ratio of 0.41, a maximum pain point of $1,900, and a notional value of $530 million.
According to Greek.live’s post, cryptocurrency went into consolidation this week, with volatility levels on realized volatility (RV) proxies picking up but expected volatility levels on implied volatility (IV) proxies steadily declining, ultimately causing the volatility risk premium (VRP) to fall back a bit.
Furthermore, Greeks.live noted that the BTC Deribit volatility (DVOL) index was at 55% at the time of the report, down 10% compared to the previous week, while the ETH Dvol stood at 56%, reflecting an unchanged value since last week. Following the reported data, the options trading platform predicted that Ethereum may take over as the leading force in the next phase of the crypto market rally.
Bitcoin consolidated this week after reaching a new yearly high of $37,978 on November 9, according to data from TradingView. The latest sideways movement has been between an upper limit of the year’s high at $37,978 and a recently established lower limit of $35,002.
Ethereum has had similar behavior after climbing to $2,131 on November 9. ETH’s price retraced to $1,934 and has since traded between that recently established low and the new high at $2,131.
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