Bitcoin options saw 22,000 contracts expire with $1.84B notional and 1.12 put-call ratio while ETH data showed 123,000 contracts at $320M notional.

BTC options show falling put/call ratios and short-dated skew with compressed volatility at $65022.58, revealing shifts in positioning and sentiment.

Bitcoin options data shows 23,000 contracts expired at $62,000 max pain with $1.5B notional; ETH saw 140,000 contracts at $1,700 max pain amid range-bound price action above 60K.

According to @GreeksLive, on March 27, a total of 68,000 BTC and 370,000 ETH options expired, representing approximately 36% of their open interest due to it being the quarterly options settlement date. The put-call ratio was reported at 0.56 for both BTC and ETH, with maximum strike prices of $74,000 and $2,250, respectively. Significant rollover activity occurred, covering over 40% of the total open interest at its peak, reflective of aggressive trading strategies. While Bitcoin's implied volatility (IV) stands at 51% and Ethereum's at 70%, a rising volatility risk premium (VRP) suggests heightened risk sensitivity in trading strategies. Despite high option activity, Bitcoin's price performance and trading volume remained weak during Q1 2023, signaling low market confidence.

According to @glassnode, the put/call ratio indicated limited momentum to push above the 75K level. Activity above 72K was dominated by put flows, signaling that the market was fading the breakout. During the subsequent pullback, a temporary spike in call buying was observed, reflecting a brief shift in sentiment.

According to @glassnode, the put/call ratio has shifted significantly, with call volume consistently dominating over recent days. The ratio now stands at 0.76, highlighting increased market positioning for potential upside movements.

According to @glassnode, the put call volume ratio, which reflects market sentiment, has shown significant rebalancing in line with skew dynamics. Over the past two weeks, the ratio fluctuated around parity and is now at 1.19, closely aligning with recent price movements. This suggests active hedging behavior and potential market positioning adjustments.

According to @glassnode, market flows are beginning to rebalance after a significant drop from 82k, where put buying dominated activity. Recent increases in call activity have pushed the Put Call ratio toward 0.7, indicating short-term stabilization. Despite this shift, the overall market structure remains defensive.

According to @glassnode, the crypto options put call volume ratio jumped from 0.6 to 1.4 following the selloff (source: @glassnode). According to @glassnode, there are no clear signs of call demand returning, indicating the market is not yet pricing a sustained rebound (source: @glassnode).

According to @GreeksLive, 91,000 BTC options expired with a put call ratio of 0.48, max pain at 90000, and 7.6 billion notional, while 435,000 ETH options expired with a put call ratio of 0.68 and max pain at 3000. This @GreeksLive data indicates call-heavy positioning in both BTC and ETH and highlights pin risk near the stated max pain strikes into settlement, levels traders watch for short term direction and volatility.

According to Glassnode, the options volume put call ratio fell from 1 to 0.4, signaling strong call flow in crypto derivatives. According to Glassnode, the key issue for traders is how short dated the call demand was, rather than whether calls were bought. According to Glassnode, understanding the tenor of this call activity is crucial for assessing how concentrated the flow is around near expiries and its potential impact on positioning dynamics.

According to @glassnode, the volume put call ratio and divergence across option skews confirm real upside demand concentrated in front-end expiries, with flows focused in short-dated crypto options while risk was not repriced across maturities. source: @glassnode tweet https://twitter.com/glassnode/status/2014655280198373525 According to @glassnode, this indicates upside buying pressure in near-term maturities while longer-dated implied volatility and skew remained anchored relative to the front end. source: @glassnode tweet https://twitter.com/glassnode/status/2014655280198373525, source: glassno.de/4pXThWi

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.