Analyst: Options with a nominal value of $2.14 billion will expire today, with Bitcoin performing significantly better than the previous three months in both price and popularity.

BlockBeats News, May 1st, according to Greeks.live data, a total of 23k BTC options are expiring on May 1st, with a Put Call Ratio of 1.13, the maximum pain point at $76,000, and a notional value of $1.74 billion.

In addition, 175k ETH options will also expire today, with a Put Call Ratio of 0.94, the maximum pain point at $2,325, and a notional value of $400 million.

Greeks.live analyst Adam stated that this week’s market volatility was relatively low, with Bitcoin maintaining oscillations around $78,000. Market sentiment is gradually calming, short-term RV has significantly decreased, and the monthly expiration has released nearly a quarter of the position margin. The implied volatility of major options expiries this week has shown a noticeable decline. Bitcoin’s implied volatility across major expiries has fallen below 40%, ETH’s major expiry IV has dropped even more, with short-term IV falling below 50%, and medium to long-term IV also dropping below 60%.

Looking at the main options data, Skew remains relatively stable, and the market’s directional sentiment remains mildly bearish. Only 6% of options are expiring this week, about 25% of positions are held by the end of May, and about 30% by the end of June. Large trades are relatively inactive, which are all signs of consolidation.

In April this year, Bitcoin performed significantly better in both price and popularity than in the previous three months, but the altcoin market showed limited signs of warming. Currently, the focus is mainly on Bitcoin trading, and waiting is needed for altcoin trading.