Nearly $2.9 Billion in BTC and ETH Options Expire with Put Dominance as IV Drops

A total of 38,000 BTC options expired with a Put-Call Ratio of 0.71, a max pain point at $74,000 and a notional value of $2.5 billion, while 215,000 ETH options settled with a Put-Call Ratio of 0.82, max pain at $2,100 and $410 million notional value, Greeks.live said on X. The expired contracts represent 9% of total open interest with a combined notional value of nearly $2.9 billion, and implied volatility fell this week with BTC front-month IV dropping to 50% and ETH to 70%, Odaily Planet Daily reports. Put options dominated trading activity, and following yesterday's downturn, early bargain buying emerged with skew rebounding and call options rising in block trades, though conditions remain bearish; Greeks.live noted the price decline has slowed but sentiment stays weak, calling talk of a bull market or significant rebound premature without fresh capital inflows.