A large batch of Bitcoin and Ethereum options is set to expire tomorrow, with total notional value reaching $252.5 million.
The data highlights clear concentration levels for both assets, pointing to specific price zones tied to options positioning.
Bitcoin options dominate the expiry
Bitcoin accounts for the majority of the expiring contracts, with $222.8 million in BTC options scheduled to settle. The chart identifies $89,000 as the max pain price, the level where the largest number of options would expire without value.
Options data shows put open interest at 1,626.3, alongside a put/call ratio of 1.90. This distribution indicates a heavier weighting toward puts in the current Bitcoin options structure ahead of expiration.
Ethereum max pain sits at $3,125
Ethereum represents a smaller portion of the total expiry, with $29.7 million in ETH options set to mature. According to the chart, Ethereum’s max pain price stands at $3,125.
ETH options display put open interest of 4,422.0, while the put/call ratio is 0.88, showing a more balanced positioning compared to Bitcoin. The data suggests less skew toward downside protection in Ethereum relative to BTC.
Key levels into expiration
Based on the chart, $89,000 for Bitcoin and $3,125 for Ethereum emerge as the central price levels tied to tomorrow’s options expiry. These levels reflect where options positioning is most concentrated going into settlement.
