According to the source, $22,000,000,000 of Bitcoin (BTC) and Ethereum (ETH) options are scheduled to expire today. Source: X post. Options expiries often coincide with elevated intraday volatility and spot pinning near max-pain as dealers rebalance and gamma exposure shifts. Source: CME Group options education and Deribit Insights. Traders should check Deribit open interest by strike, put–call ratios, and estimated dealer gamma flip levels to gauge likely magnet strikes and liquidity pockets. Source: Deribit metrics and Genesis Volatility research. Expect funding-rate swings on perpetuals into the settlement window and potential implied-volatility compression afterward if prices converge toward max-pain; manage with reduced leverage and risk-defined spreads. Source: Kaiko market structure research and Options Industry Council education.