Over $2.2 billion in BTC and ETH options expire today, with limited expected impact on the spot market

April 10, about 26,592 Bitcoin options contracts are set to expire, with a notional value of $1.9 billion. The expiration size is relatively small, similar to last week, and is expected to have limited impact on the spot market.

In terms of the options structure, this week’s expiring contracts have a put/call ratio of 0.72, with bullish positions outweighing bearish ones. Deribit data shows the maximum pain point is around $69,000, below the spot price, and many contracts that expire may be in-the-money and therefore could be at a loss.

As for market sentiment, traders are buying short-term call options and various bullish structures, while selling or rolling over put options and moving strike prices higher, reflecting a more optimistic outlook.

Meanwhile, about 150,071 Ethereum contracts are also set to expire, with a notional value of $337 million. The maximum pain point is $2,050, and the put/call ratio is 0.77.

Analysts believe that although the macro environment remains full of uncertainty, multiple signals show Ethereum is gradually improving, indicating that the Ethereum derivatives market is showing signs of recovery.

In terms of market performance, during today’s early Asian session, the total market capitalization returned above $2.5 trillion, and Bitcoin reclaimed $72,000. Over the past seven days, it has risen nearly 5%, but it is still trading in a range, with strong resistance overhead.

Ethereum has maintained its gains for the week, trading slightly below $2,200 at the time of writing. Most altcoins were basically flat on the day, and many remain near the lows of the bear market.

#Options Expiry