$2.6 Billion in Bitcoin and Ethereum Options Set to Expire as Volatility Surges to 100%

More than $2.6 billion in Bitcoin and Ethereum options are set to expire, with Bitcoin accounting for $2.2 billion and Ethereum for $419 million of the notional value. This event occurs as volatility is elevated, with Bitcoin's current-month implied volatility (IV) surging to 100%, doubling since the start of the year. Current spot prices for both assets are below their respective max pain levels, suggesting option sellers might benefit if prices remain suppressed. Analysts note that derivatives markets show clear signs of stress, with institutional players actively hedging downside risk, leading to a bearish sentiment dominating options market structure. The expiry, scheduled for 08:00 UTC on Deribit, could act as a short-term reset for dealer hedging flows, potentially causing price behavior to change immediately afterward.

(Source：BeInCrypto)