Market eyes max pain prices as $6.6 billion BTC and $3.4 billion ETH options expiry nears


Quick
Take

As

June
draws
to
close,
significant
expiration
in
Bitcoin
(BTC)
and
Ethereum
(ETH)
options
loom,
potentially
impacting
market
conditions.
On
June
28,
BTC
options
worth
$6.6
billion
will
expire.
Deribit
data
reveals
a
put/call
ratio
of
0.53,
indicating
a
bullish
sentiment,
with
total
open
interest
roughly
around
107,000
BTC—70,000
in
calls
and
37,000
in
puts.
Despite
this,
BTC’s

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price
has
been
declining,
dropping
10%
over
the
past
month
to
as
low
as
$60,500,
edging
towards
the
max
pain
price
of
$58,000.

Bitcoin:
Open
Interest
By
Strike
Price:
(Source:
Deribit)

ETH
options
are
also
set
for
expiry,
with
$3.4
billion
in
notional
value.
The
max
pain
price
for
ETH
stands
at
$3,100,
while
the
current
price
is
$3,300,
after
a
13%
decrease
over
30
days.
The
total
open
interest
for
ETH
options
exceeds
1
million
ETH,
with
calls
dominating
at
roughly
648,000
ETH,
according
to
Deribit
data.

The
max
pain
price,
the
level
at
which
the
most
options
lose
value,
is
crucial
in
these
expirations.
As
the
expiry
date
approaches,
market
movements
can
gravitate
towards
these
levels.
Investors
are
keenly
observing
whether
BTC
and
ETH
prices
will
align
with
their
respective
max
pain
prices,
potentially
indicating
significant
shifts
in
market
sentiment
and
positioning.

Go to Source
Author: James Van Straten


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