Every Zipp story tagged #PutCallRatio, newest first.
The put-call ratio split tells the actual story: ETH traders opened more puts than calls, while BTC positioning stayed almost evenly balanced ahead of Friday's expiry.
Weak quarterly expiry volumes and a put-call ratio below 1 on both legs leave the structural read unchanged: desks are hedging, not chasing, while persistent spot ETF and Strategy selling pressure…
31,000 BTC contracts and 138,000 ETH contracts rolled off Friday. The put-call split shows hedgers leaning cautious on ETH while BTC's open interest stayed tilted bullish.
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.
ETH options expire 129K contracts and $280M notional — bull-side put-call ratios across both assets point to neutral-to-bearish hedging demand, not panic.
The put/call ratio is moving fast on BlackRock's spot BTC ETF — a sign that institutional desks are repositioning rather than waiting on the sidelines.
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