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31,000 BTC options expired on June 19, with a put-call ratio of 0.78, a maximum pain point of $65,000, and a notional value of $1.9 billion. The put-call split below 1.0 signals that calls outpaced puts on the day, with open interest tilted toward upside positioning.
138,000 ETH options expired in the same session, with a put-call ratio of 1.03, a maximum pain point of $1,725, and a notional value of $230 million. ETH's ratio crossing parity reflects a near-even split, with a marginal lean toward protective put demand relative to BTC's structure.
The maximum-pain prints frame the levels where option seller exposure concentrates. For BTC, the $65,000 strike sits below the spot reference typically observed around these expiries; for ETH, $1,725 anchors a level that tends to attract price action into settlement.
Frequently asked questions
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How many BTC options expired on June 19?
31,000 BTC options expired on June 19, with a notional value of $1.9 billion and a maximum-pain point of $65,000.
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What was the put-call ratio for ETH options at this expiry?
The ETH put-call ratio landed at 1.03, indicating a near-even split between calls and puts with a marginal lean toward protective put demand.
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What is maximum pain and why does it matter at expiry?
Maximum pain is the strike price at which the largest number of options expires worthless, concentrating seller exposure. Price often gravitates toward this level into settlement.
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How does the BTC put-call ratio compare to ETH's at this expiry?
BTC's ratio printed 0.78 (calls outpacing puts, bullish skew), while ETH's ratio hit 1.03 (parity with slight put-side lean), showing ETH hedgers were more cautious than BTC hedgers.
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What was the total notional value cleared across both assets?
The combined notional value was roughly $2.13 billion, with $1.9 billion in BTC options and $230 million in ETH options expiring on the same session.
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