According to @GreeksLive, 41,000 BTC options expired with a put-call ratio of 0.61, a maximum pain point at $105,000, and $3.95 billion in notional value, while 228,000 ETH options expired with a put-call ratio of 0.59, a maximum pain point at $3,475, and $730 million notional, source: @GreeksLive. Both BTC and ETH prices continue to fall, with BTC now below $100,000 without a clear rebound and ETH logging three straight monthly losses as sentiment shifts from neutral to negative, source: @GreeksLive. Implied volatility is rebounding broadly with BTC near-term IV approaching 50% and averaging around 45%, while ETH IV is above 70% for major expirations and near 100% in the short term, signaling rising volatility expectations, source: @GreeksLive. Bitcoin put-option volume and its share of total options trading have been steadily increasing, with puts now around a 30% share and risk aversion the dominant stance, source: @GreeksLive. The author characterizes this Q4 as the worst on record, citing macro uncertainty and divided sentiment, and advises against leveraged trading, source: @GreeksLive.

According to Crypto Rover, $3 billion worth of Bitcoin and Ethereum options are expiring today, a significant event that often leads to increased volatility and trading volume in the crypto market. Traders should monitor price action closely as large options expiries can trigger sharp movements and liquidity shifts, particularly for BTC and ETH pairs. This event may present both risk and opportunity for short-term trading strategies, as market makers and institutional participants adjust positions in response to expiring contracts (source: Crypto Rover via Twitter, May 9, 2025).