August 21 Options Expiry Data

24,000 BTC options are expiring, with a Put Call Ratio of 0.84, max pain at $67,000, and a notional value of $1.82 billion. 149,000 ETH options are expiring, with a Put Call Ratio of 0.84, max pain at $2,000, and a notional value of $360 million. Bitcoin saw a major rally this week, breaking through $76K and surpassing two key consolidation zones from earlier this year. This is one of the rare expiry days where the settlement price exceeds the max pain level. Monthly realized volatility (RV) surged 20% to 53%, while monthly implied volatility (IV) only rose 6%. Currently, VRP has dropped significantly. Looking at other major options data, 6% of options are expiring this week. Open interest has rebounded but remains at low levels, while trading activity has surged. The rapid increase in price and trading enthusiasm has caused bullish Gex to become highly dispersed, while bearish Gex is almost negligible. The market is in a full-on bullish mode. After enduring a 10-month crypto bear market, we’re finally seeing a decent rally. Market sentiment is extremely optimistic—this is the kind of green candle that restores faith. At the moment, monthly out-of-the-money IV is still relatively low, making it worth considering some directional buys.