According to @GreeksLive, 21,000 BTC options expired with a Put-Call Ratio of 1.07, a maximum pain point at $90,000, and $1.9 billion notional value, while 126,000 ETH options expired with a Put-Call Ratio of 0.88, a maximum pain point at $3,100, and $390 million notional value, totaling nearly $2.4 billion or about 7% of open interest, which is a relatively minor expiry for the week, source: @GreeksLive. The post-annual settlement rebound saw a pullback this week, but the recent downward trend in BTC and ETH has eased and sentiment is improving, with BTC’s $90,000 and ETH’s $3,000 psychological levels cited as strong supports, source: @GreeksLive. Key options metrics show BTC implied volatility is stable versus pre-Christmas, with main-term IV around 40%, while ETH IV has declined with main-term IV at 55%, highlighting an IV divergence traders should note, source: @GreeksLive. Block trading remained elevated, accounting for over 70% of today’s total options volume, driven by new position-building demand, source: @GreeksLive. Market makers and active traders reportedly hold substantial cash and are primarily positioning in BTC month-end call options and ETH month-end put options, indicating targeted directional and hedging flows into month-end, source: @GreeksLive.

According to @GreeksLive, on Dec 26, 2025, 267,000 BTC options expired with a Put-Call Ratio of 0.35, a maximum pain level at $95,000, and $23.6 billion in notional value. According to @GreeksLive, 1.28 million ETH options expired with a Put-Call Ratio of 0.45 and a maximum pain level at $3,100, with the post not providing an ETH notional figure.

According to @WatcherGuru, $4.3 billion worth of Bitcoin (BTC) and Ethereum (ETH) options expire today. Options expirations can trigger hedging-driven moves in spot and futures and shifts in implied volatility as dealers rebalance delta and gamma, according to CME Group. Traders commonly monitor open interest by strike, max pain, and near-the-money clusters during crypto options expiry to gauge potential pinning or volatility release, according to Deribit Insights.

According to @WatcherGuru, $15.4 billion worth of Bitcoin (BTC) and Ethereum (ETH) options expire today (source: @WatcherGuru on X, Nov 28, 2025). Large crypto options expirations are associated with concentrated hedging flows and short-term volatility around settlement on major venues such as Deribit, so traders often monitor spot moves, liquidity, and perp funding near the expiry window (sources: Deribit Knowledge Base; CME Group options education).