Wu said that according to GreeksLive, there will be 16000 BTC options (with a nominal value of $1.28 billion and a pain point of $82000) and 58000 ETH options (with a nominal value of $250 million and a pain point of $2460) expiring on October 23rd; Although the delivery scale is relatively small and BTC is strongly supported at $80000, the market is still oscillating at the bottom of a bear market. From the main option data, the current IV is at a relatively low level, stable above 35%, and the market has low expectations for future volatility. The Gex structure is relatively dispersed and does not converge to integer numbers as in the past, resulting in lower market consensus. The cycle theory shows that there is currently no foundation to start a big bull market. Given the low monthly virtual option IV, the current allocation of some bearish directional protection is still cost-effective. https://www. (wublock123.com)/news/greekslive-16k-btc-options-expire-oct-23-bearish-market-range-70549