[Today $13 Billion BTC Options Expire, Max Pain Point at $98,000] On November 28, 143,000 BTC options expire, with a Put Call Ratio of 0.51, a max pain point at $98,000, and a nominal value of $13 billion. Additionally, 572,000 ETH options expire, with a Put Call Ratio of 0.48, a max pain point at $3,400, and a nominal value of $1.71 billion. Researcher Adam stated that the implied volatility for BTC and ETH main maturities is below 45% and 70%, respectively, both at relatively high levels for the year. Before and after settlement, large-scale Bitcoin options trading volume has increased, mainly due to rollover demand, while large-scale Ethereum trading is relatively less frequent, reflecting different market characteristics. The fourth-quarter market performance has been poor due to macroeconomic uncertainties, and leveraged operations are not recommended.