According to Greekslive, 32,000 BTC options expire, with a Put/Call Ratio of 0.26. The maximum pain point is $64,000, and the notional value is $2.06 billion. 177,000 ETH options expire, with a Put/Call Ratio of 0.77. The maximum pain point is $1,900, and the notional value is $340 million. Based on the main options data, this week has 9% of options expiring, which is a relatively high proportion. The main reason is that more out-of-the-money call positions are being opened, which also causes Gex to be relatively dispersed—there are very few bearish positions. Moreover, the Gex associated with the downside is relatively concentrated. Bitcoin’s PCR has continued to stay at a low level around 0.26, and the open interest in bearish put options is extremely low.