Bitcoin and Ether Options Worth $2.95 Billion Expire Oct. 2

Bitcoin (BTC) and Ether (ETH) options with a combined notional value of $2.95 billion are due to expire Oct. 2, the first weekly settlement day after the quarterly settlement.

Bitcoin options make up $2.63 billion of the total, with 30,500 contracts expiring. Their put-call ratio is 1.07, and the maximum pain level is $82,000.

Ether options account for $320 million across 116,000 contracts. Their put-call ratio is 1.17, and the maximum pain level is $2,660.

Bitcoin has fluctuated around $85,000 for more than a week, and large call-option trades were active. The Oct. 2 expiry is the first weekly settlement day after the quarterly settlement.

Implied volatility across major maturities fell from the previous week but rose from two weeks earlier, and is at a low for the current bull market. Monthly realized volatility moved similarly, while volatility risk premiums across major maturities declined.

GEX peaks at $90,000 and above, while downside GEX has become more dispersed.