3.6 Billion Dollar Worth of Bitcoin, Ethereum Options Expiring—What Should Traders Know?

Approximately $3.6 billion worth of Bitcoin BTCUSD and Ethereum ETHUSD crypto option contracts will expire today after a week that was predominantly bullish.
Although today’s expiration is relatively small compared to the Bitcoin and Ethereum options contracts worth 17.27 billion Dollars that expired last week, it may create short-term volatility in the market.
Crypto traders focused on 3.6 Billion Dollar Bitcoin and Ethereum Options Expiration
According to Deribit data, 27,384 Bitcoin options contracts will expire on July 4th. This figure is significantly smaller than last week's 139,390 contracts. The nominal value of the options expiring today is 2.98 billion Dollar.

Both assets are trading above their maximum pain points. As of this writing, Bitcoin was trading at 109,130 Dollar, above the maximum pain price of 106,000 Dollar. Similarly, the price of ETH at press time was 2,577 Dollar, above the maximum pain level of 2,500 Dollar.
The maximum pain point is an important metric that represents the price level at which the highest number of option contracts become worthless. This scenario causes traders holding these options to experience the maximum financial loss or "pain."
This concept is important as it generally affects market behavior. According to the Maximum Pain theory, as options expire, the asset's price tends to gravitate towards this level.

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