October 9 Options Expiry Summary
■ Bitcoin (BTC)
- Expiring OI: ~22,000 BTC
- Put/Call Ratio: 1.11
- Max Pain: $84,000
- Notional Value: ~$1.86B
■ Ethereum (ETH)
- Expiring OI: ~123,000 ETH
- Put/Call Ratio: 0.71
- Max Pain: $2,650
- Notional Value: ~$320M
■ Market Overview
On October 9, approximately 6% of BTC and 9% of ETH options open interest will expire.
The market has been correcting throughout the week, and BTC's next direction remains uncertain.
■ Implied Volatility (IV)
IV remains relatively low, indicating that the options market is pricing in limited future volatility.
Despite two major rallies this year, IV across key maturities has continued to decline, suggesting that buyers remain cautious about paying high premiums for large price movements.
■ Gamma Exposure (GEX)
GEX is concentrated around $90K, $95K, and $100K, while relatively little exposure has accumulated near $80K and $85K.
This means major gamma concentrations are currently positioned above the market price.
■ Market Outlook
Crypto markets saw a solid summer rebound, with two sharp rallies and improving sentiment over a bullish period lasting more than a month.
This is an encouraging sign for long-term spot holders.
Meanwhile, monthly OTM implied volatility remains relatively low, making protective puts worth considering as a hedge against downside risk while maintaining spot exposure.
For more of my market analysis, check out:
X: @BaByDoll_Ch
YouTube: @BaByDoll.Channel
#Bitcoin
#BTC
#Ethereum
#ETH
#OPTION
$BTC
$ETH
■ Bitcoin (BTC)
- Expiring OI: ~22,000 BTC
- Put/Call Ratio: 1.11
- Max Pain: $84,000
- Notional Value: ~$1.86B
■ Ethereum (ETH)
- Expiring OI: ~123,000 ETH
- Put/Call Ratio: 0.71
- Max Pain: $2,650
- Notional Value: ~$320M
■ Market Overview
On October 9, approximately 6% of BTC and 9% of ETH options open interest will expire.
The market has been correcting throughout the week, and BTC's next direction remains uncertain.
■ Implied Volatility (IV)
IV remains relatively low, indicating that the options market is pricing in limited future volatility.
Despite two major rallies this year, IV across key maturities has continued to decline, suggesting that buyers remain cautious about paying high premiums for large price movements.
■ Gamma Exposure (GEX)
GEX is concentrated around $90K, $95K, and $100K, while relatively little exposure has accumulated near $80K and $85K.
This means major gamma concentrations are currently positioned above the market price.
■ Market Outlook
Crypto markets saw a solid summer rebound, with two sharp rallies and improving sentiment over a bullish period lasting more than a month.
This is an encouraging sign for long-term spot holders.
Meanwhile, monthly OTM implied volatility remains relatively low, making protective puts worth considering as a hedge against downside risk while maintaining spot exposure.
For more of my market analysis, check out:
X: @BaByDoll_Ch
YouTube: @BaByDoll.Channel
#Bitcoin
#BTC
#Ethereum
#ETH
#OPTION
$BTC
$ETH