Key Points
- 14,000 Bitcoin options and 125,000 Ethereum options will expire today.
- BTC is trading above $55,000 and ETH is above $2.300.
Today, the weekly options data has been released amidst a weaker week for crypto.
According to the latest reports from Greeks.live, 14,000 Bitcoin options are about to expire today, September 6, with a Put Call Ratio of 0.81, a Maxpain point of $59,000, and a notional value of $760 million.
Also, 125,000 Ethereum options are about to expire today, with a Put Call Ratio of 0.63, a Maxpain point of $2,500 and a notional value of $290 million.
Crypto’s Weakness, Evident in Options Data
As Greeks.live has noted, crypto has been down all the way this week, and the weakness across the board is more obvious in the options data.
The Maxpain point declines and not keeping pace with price declines lately, according to their notes. Major term IVs have risen, with the October 8 IV bump being gradually erased ahead of the upcoming US election that is set to take place on November 5.
Greeks.live notes that last week, it was mentioned that the trading data from previous years has been generally flat in September, but the market seems to be a little overly pessimistic. They also said that they prefer to believe in a bullish end to this year.
As previously noted, although historical data based on Bitcoin’s seasonality has been showing a bearish September, things could still change this year based on multiple factors.
BTC Above $55,000, and ETH Above $2,300
Regarding Bitcoin’s price today, at the moment of writing this article, the coin is trading above $55,000, down by over 2% in the past 24 hours.
Bitcoin is also down by about 6% since the beginning of September, but upcoming important economic and political events could change the price trajectory for the most important digital asset, as mentioned above.
Regarding the price of ETH today, at the moment of writing this article, the coin is trading above $2,300, also down by 2% in the past 24 hours.
Since the beginning of September, ETH has been down by over 6%.
