As we approach the end of December, today marks the expiry of Bitcoin (BTC) and Ethereum (ETH) options worth $2.63 billion.

According to the data from Deribit, one of the largest exchanges, the total value of 21,000 Bitcoin contracts, which amounts to 2.04 billion dollars, will expire today. The put-call ratio of these options is 0.87, and the max pain level is $101,000.

Max pain is the strike price with the highest open option contracts. This price, when the options expire, will cause the maximum number of option holders to experience financial loss. The put-call ratio shows the ratio between the call options and put options in the market.

The expiration of more than 590 million dollars worth of 173 thousand Ethereum contracts, excluding Bitcoin, is also approaching. The put-call ratio of these is 0.5; the max pain level is 3,750 dollars. Please provide the source language text to be translated.

Market makers are adjusting their positions

As the end of the year approaches, significant outflows are being experienced in ETFs, especially towards the Christmas period. Market makers are readjusting their positions, and recently the daily trading volume of Block purchase options has exceeded 30%. By the end of the year, more than 40% of the options will expire.

Please provide the text to be translated. Derivative analyst Greeks.live said, "This situation increases the probability of a decrease in implied volatility along with the release of a large amount of margin. Therefore, buying options next week seems quite advantageous in terms of cost."

As we approach the end of December, today marks the expiration of $2.63 billion worth of Bitcoin (BTC) and Ethereum (ETH) options. Please provide the source language text to be translated.

According to data from Deribit, one of the largest exchanges, a total of 21,000 Bitcoin contracts worth a total of $2.04 billion will expire today. The put-call ratio of these options is 0.87, with a max pain level at $101,000.

Max pain is the strike price with the most open option contracts. This price is the one that would cause the maximum number of option holders to experience financial loss when the options expire. The put-call ratio shows the ratio between the call options and put options in the market.

In addition to Bitcoin, the expiration of more than 173,000 Ethereum contracts worth over $590 million is also due. Their put-call ratio is 0.5 and the max pain level is $3,750.

Market makers are adjusting their positions

As the year-end approaches, especially towards the Christmas period, significant outflows are occurring in ETFs. Market makers are readjusting their positions, and the daily trading volume of Block purchase options has exceeded 30% in recent times. Over 40% of the options will expire by the end of the year.

Derivatives analyst Greeks.live said, “This situation increases the probability of a decrease in implied volatility along with the large amount of margin left free. Therefore, buying options next week seems quite advantageous in terms of cost”.

As we approach the end of December, today marks the expiry of Bitcoin (BTC) and Ethereum (ETH) options worth $2.63 billion.

According to data from one of the largest exchanges, Deribit, a total of 21,000 Bitcoin contracts worth a total of $2.04 billion will expire today. The put-call ratio of these options is 0.87, and the max pain level is $101,000. Please provide the text to be translated. Max pain is the strike price with the highest number of open option contracts. This price is the one that would cause the maximum number of option holders to experience a financial loss when the options expire. The put-call ratio shows the ratio between the buying options and selling options in the market. Please provide the text to be translated. In addition to Bitcoin, the expiration of more than 173,000 Ethereum contracts worth over $590 million is also due. Their put-call ratio is 0.5, and the max pain level is $3,750. Please provide the text to be translated.

Market makers are adjusting their positions

Please provide the text to be translated. As the end of the year approaches, there are significant outflows in ETFs, especially towards the Christmas period. Market makers are repositioning their positions, and recently the daily trading volume of Block purchase options has exceeded 30%. By the end of the year, more than 40% of the options will expire. Please provide the text to be translated. Derivatives analyst Greeks.live said, "This situation increases the likelihood of a decrease in implied volatility along with the released large amount of margin. Therefore, buying options next week seems quite advantageous in terms of cost."