How many BTC and ETH options expired on May 29?

84,000 BTC options and 639,000 ETH options expired on May 29, with a combined notional value of $7.48 billion.

What were the put-call ratios and max pain levels?

BTC put-call ratio printed 0.88 with max pain at $75,000. ETH put-call ratio printed 0.81 with max pain at $2,200. Both max-pain levels were below current spot.

What does a put-call ratio above 0.7 signal?

Put-call ratios above 0.7 indicate a defensive or bearish positioning bias among options traders, as put open interest outweighs calls.

Why does June options open interest matter?

Greeks.live noted June options now hold roughly 40% of total open interest, making the next monthly expiry the largest near-term gravitational pull on spot price.

What is the market backdrop heading into June expiry?

Greeks.live flagged weak risk appetite and prices stuck below key levels, with traders positioning for a decisive move rather than a sideways grind into the next settlement.

🩸BEARISH 48d ago

WuBlockchain

BTC, ETH options expire at $7.5B as max pain drags below spot

The 84,000 BTC and 639,000 ETH contracts that expired May 29 cleared with bearish put-call ratios and max-pain levels under current price — June OI now carries 40% of the book.

Zipp Editorial Aggregated from WuBlockchain

BTC, ETH options expire at $7.5B as max pain drags below spot

84,000 BTC options and 639,000 ETH options expired on May 29, with combined notional value of $7.48 billion. The put-call ratio came in at 0.88 for BTC and 0.81 for ETH, while max pain landed at $75,000 and $2,200 respectively — both below current spot levels.

Why it matters

A put-call ratio above 0.7 on both assets signals a defensive posture going into expiry, and max pain sitting under spot suggests the market would have preferred a price drag into the settlement window. With June contracts now holding roughly 40% of total open interest, the next monthly expiry is shaping up to be the larger gravitational pull for spot in the near term.

Market impact

Greeks.live flagged weak risk appetite and prices stuck below key levels as the macro context, and the heavy June OI concentration means traders are positioning for a decisive move rather than a grind. Whether the next leg resolves above or below the May max-pain levels will set the tone for the rest of the quarter.

$BTC #ETH #OptionsExpiry #PutCallRatio

Frequently asked questions

How many BTC and ETH options expired on May 29?

84,000 BTC options and 639,000 ETH options expired on May 29, with a combined notional value of $7.48 billion.
What were the put-call ratios and max pain levels?

BTC put-call ratio printed 0.88 with max pain at $75,000. ETH put-call ratio printed 0.81 with max pain at $2,200. Both max-pain levels were below current spot.
What does a put-call ratio above 0.7 signal?

Put-call ratios above 0.7 indicate a defensive or bearish positioning bias among options traders, as put open interest outweighs calls.
Why does June options open interest matter?

Greeks.live noted June options now hold roughly 40% of total open interest, making the next monthly expiry the largest near-term gravitational pull on spot price.
What is the market backdrop heading into June expiry?

Greeks.live flagged weak risk appetite and prices stuck below key levels, with traders positioning for a decisive move rather than a sideways grind into the next settlement.

Source attribution

Aggregated from WuBlockchain · Verified · Last refreshed 48d ago

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