Bitcoin and Ethereum Options Worth $9.87 Billion Set to Expire on April 24

On April 24, Greeks.live posted on social media stating, "April 24 options expiration data: 109,000 BTC options are set to expire, with a Put Call Ratio of 0.93 and a maximum pain point of $72,000, representing a notional value of $8.55 billion. Additionally, 563,000 ETH options are expiring, with a Put Call Ratio of 0.72 and a maximum pain point of $2,200, amounting to a notional value of $1.32 billion. The market has continued to rebound this week, with Bitcoin strongly breaking through $78,000. The Web3 conference in Hong Kong is also filled with a bullish atmosphere, and altcoin markets are showing signs of recovery. This is a monthly expiration, with 25% of options set to expire. In terms of open interest, the distribution of open contracts in the options market shows 12% expiring at the end of May and 24% at the end of June. From the main options data, Bitcoin’s implied volatility (IV) for major expirations has continued to decline this month, with most expirations dropping by 1% to 2%, falling below 40%. Ethereum’s main expiration IV has decreased even more, currently around 60%. Despite the price increase, the skew has retreated, indicating a lack of FOMO sentiment in the market. In the second quarter of this year, Bitcoin has shown a significant improvement in both price and popularity compared to the first quarter. This month’s sustained rebound reflects an influx of capital, and if macro pressures bottom out by mid-year, Bitcoin’s bottom will also be confirmed.