Greeks.live: Today's Crypto Options Face Quarterly Expiration with $15.12 Billion in BTC and ETH Options Set to Expire

On March 27, Greeks.live posted on social media stating, “March 27 options expiration data: 68,000 BTC options are expiring, with a Put Call Ratio of 0.56 and a maximum pain point of $74,000, representing a notional value of $13 billion. Additionally, 370,000 ETH options are expiring, with a Put Call Ratio of 0.56 and a maximum pain point of $2,250, representing a notional value of $2.12 billion. Today marks the quarterly expiration day, with approximately 36% of Bitcoin and Ethereum options expiring. This week saw a significant amount of options rollovers, peaking at over 40% of the total options open interest. Furthermore, due to the large expiration day, the call ratio is quite high, with a PCR of only 0.56. Despite market fluctuations, trading activity for Bitcoin remains relatively low. According to major options data, Bitcoin’s implied volatility (IV) stands at 51%, while ETH’s IV is at 70%. The realized volatility (RV) continues to decline, causing the volatility risk premium (VRP) to rise, with the 15-day VRP reaching nearly 20% in the first half of this week. In the first quarter of this year, Bitcoin has performed poorly in both price and trading activity, leading to a lack of market confidence, with hopes for improvement in the second quarter.”