Options Expiry Alert 🚨 At 08:00 UTC Friday, ~$2.51B in BTC and ETH options are set to expire on Deribit. bitcoin:native: ~$2.23B notional | P/C: 0.61 | Max Pain: $78K ethereum:native: ~$279.86M notional | P/C: 1.17 | Max Pain: $2.45K BTC open interest is concentrated around $72K–$76K on the put side, while calls build more heavily above $80K, with the largest call concentration at $81K. ETH positioning is more put-heavy overall, with notable put interest around $2.2K and $2.4K, while calls are concentrated higher around $2.5K–$3K, led by $2.8K. With BTC’s put/call ratio below 1, calls outweigh puts into expiry, while ETH’s ratio above 1 shows puts holding the edge. Max pain sits at $78K for BTC and $2.45K for ETH. Expiry tomorrow ↓(Deribit)