[Approximately $16.6 Billion in BTC and ETH Options to Expire in Q3, Bullish Positions Dominate] Coinbase Markets reported that approximately $16.6 billion worth of BTC and ETH options positions are set to expire in the third quarter of 2026. For Bitcoin, the notional value is approximately $14.73 billion, with 186,000 open contracts. The put-to-call ratio stands at 0.52, with the maximum pain point at $72,000. The highest concentration of bullish positions is near $70,000, with significant upward open interest also observed at $85,000 and $90,000, and some distribution near $100,000. For Ethereum, the notional value is approximately $1.92 billion, with 756,100 open contracts. The put-to-call ratio is 0.57, with the maximum pain point at $2,200. The $30,000 level remains the highest concentration of bullish positions, with approximately 43,000 contracts.