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**July’s First Option Data Unveiled: Will Bitcoin and Ethereum Surge?**
As July 5 approaches, attention turns to the impending expiration of 18,000 Bitcoin and 164,000 Ethereum options.
**Author:** Elif Azra Güven
**Date:** 05.07.2024 – 10:42
**Update:** 7 seconds ago
Since the end of June, a dominant red hue has painted the Bitcoin (BTC) market, coinciding with its weekly, monthly, and quarterly closures. All eyes are now on the expiration of BTC and Ethereum (ETH) options today.
According to data from the Singapore-based crypto options platform Greeks.live, 18,000 BTC and 164,000 ETH options are set to expire on July 5. The BTC options show a Put/Call Ratio of 0.65, with a maximum loss point at $61,500 and a notional value of $1 billion. Meanwhile, ETH options reveal a Put/Call Ratio of 0.36, a maximum loss point of $3,350, and a notional value totaling $470 million.
Following the three-month maturity, significant market fluctuations were immediately evident. July began with substantial losses across major cryptocurrencies, sinking them to new monthly lows. The surge in major futures IVs provided institutional sellers a strategic window to build positions, despite an overarching pessimistic market sentiment.
The fact that both Bitcoin and Ethereum have maximum loss points above current levels suggests a potentially bullish outlook among option investors, reflecting their optimistic expectations. Furthermore, the Put/Call Ratios for BTC and ETH also indicate a bullish sentiment.
**Interpreting the Put/Call Ratio for Bitcoin and Ethereum**
The Put/Call Ratio, derived from dividing the number of put options by call options, stands at 0.65 for Bitcoin and 0.36 for Ethereum. Ratios below 1 typically signal an upward market trend due to higher call option purchases, while ratios above 1 indicate a bearish trend dominated by put options. A ratio close to 1 suggests market neutrality.
With BTC and ETH currently showing ratios indicative of bullish sentiments, the coming days will reveal how these metrics influence market prices. It’s essential for investors to consider multiple data points rather than making decisions based solely on one report.
**July 5 Options Data Snapshot**
– 18,000 BTC options set to expire
– Put/Call Ratio: 0.65
– Maxpain Point: $61,500
– Notional Value: $1 billion
– 164,000 ETH options set to expire
– Put/Call Ratio: 0.36
– Maxpain Point: $3,350
– Notional Value: $470 million
*Disclaimer: This article does not constitute investment advice.*
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