BTC, ETH options expiry on Sept. 4 totals $2.74B notional

ME News, Sept. 4 (UTC+8) — Options expiry data for Sept. 4 showed 29,600 BTC options settling, with a put/call ratio of 0.65, a max pain level at $73,000, and $2.39 billion in notional value. In ETH, 139,000 options expired, with a put/call ratio of 0.9, a max pain point at $2,400, and $350 million in notional. Analysts said Bitcoin, after a sharp rally two weeks ago, has been consolidating around $80,000. Price action has tended to follow a repeating pattern of brief, fast rallies followed by a slower sideways drift lower. One-month realized volatility (RV) climbed further to 40% from last week, while one-month implied volatility (IV) eased to 36%. The 15-day VRP briefly fell to 16% yesterday before rebounding to 6%, still well below last month's peak of 15%. Additional options indicators showed roughly 7% of contracts expiring this week. BTC open interest rose while ETH open interest fell, and overall trading activity jumped. Bullish GEX has continued to converge, with short call positioning building above $80,000, while bearish GEX is close to negligible. After a 10-month bear market, the current bull phase has run for nearly three weeks. A short lull in U.S. equities has also offered the crypto market breathing room. Sentiment remains strongly upbeat, and with one-month out-of-the-money IV still relatively subdued, directional long positioning is viewed as attractive. (Source: PANews)