Greeks.live: 26,000 BTC and 215,000 ETH options are expiring. Recently, option market makers have reduced their selling pressure

According to Greeks.live data on March 7, a total of 26,000 BTC options and 215,000 ETH options expired. The Put Call Ratio was respectively 0.72 and 0.73, with the largest pain points being $89,000 and $2,300 respectively. Their nominal values were $2.36 billion and $490 million respectively.

The market experienced severe fluctuations this week; the short-term implied volatility (IV) for BTC remained at 90%, while that for ETH even exceeded 110%. Fear over the short-term trend of cryptocurrencies spread across the market; Trump's remarks became the only hot topic while other tracks performed indifferently. Recently option makers have reduced their selling efforts allowing IV to rise in order to avoid risk; buyers however have made considerable profits over the past two weeks.