Greeks.live: 26,000 BTC options expire on March 13, and the market enters a wait-and-see stance

Gate News reports that on March 12, Greeks.live posted on social media that 26,000 BTC options will expire on March 13, with a Put-Call Ratio of 0.9, a maximum pain point of $69,000, and a notional value of $1.8 billion; 182,000 ETH options will also expire, with a Put-Call Ratio of 1.21, a maximum pain point of $2,000, and a notional value of $380 million.

Greeks.live states that the crypto market continued to rebound this week, with Bitcoin once again crossing the $70,000 mark, but the rebound momentum has slowed. According to options market data, implied volatility (IV) for short- and medium-term options decreased this week, while IV for long-term options increased slightly. The main-term IV for BTC is around 50%, ETH’s main-term IV is about 70%, and the RV’s decline is even more noticeable.

Options expiring tomorrow account for only 6% of the total open interest, the lowest level in recent years, indicating that trading activity in Bitcoin has reached an extremely low level. However, the maximum pain point for this week finally stopped decreasing, ending months of decline with a rebound.

In terms of trading volume, large trades and order book trades, as well as bullish and bearish trades, each account for about a quarter, with no single option dominating. From the main options data, skew has hardly fluctuated, clearly indicating a market in wait-and-see mode. Greeks.live believes the market is still in a bear phase, and recent AI hype has not brought any improvement.