$1.2 Billion BTC Options Expire, ETH Bearish Positions Remain at High Levels for a Month

BlockBeats News, July 17: Greeks.live published an article stating that on July 17, a total of 19,000 BTC options will expire, with a Put Call Ratio (PCR) of 0.9, a max pain point of $63,000, and a nominal value of approximately $1.2 billion. Meanwhile, 123,000 ETH options will expire, with a PCR of 1.61, a max pain point of $1,800, and a nominal value of approximately $230 million. In terms of the market, BTC continues to oscillate above $60,000 this week, with fluctuations in the $60,000 to $65,000 range persisting for over a month. Significant volatility in U.S. stocks, particularly in SpaceX and the storage sector, has not yet had a noticeable impact on the crypto market. From the perspective of options positions, approximately 5% of options will expire this week, with overall open interest declining, primarily due to low market volatility and reduced trading opportunities. BTC Gamma Exposure (GEX) is mainly concentrated around $64,000 and $70,000, while ETH GEX is primarily distributed in the $1,825 to $2,000 range, with a relatively dispersed distribution. Some traders have started attempting to position for a rebound using shallow out-of-the-money options. Recently, the proportion of large bullish trades continues to rise, mainly focusing on short-term bull call spread strategies. Notably, ETH's Put Call Ratio has exceeded 1 for a consecutive month, reaching 1.61 this week. The proportion of bearish options positions remains at a high level, indicating significant market divergence regarding ETH's future outlook, with intensified long-short contention.