PA News, November 6 — Deribit announced on X that Bitcoin and Ethereum options worth over $5 billion will expire tomorrow at 16:00 (UTC+8). The Bitcoin options open interest indicates that, following last week’s drop below $100,000, market sentiment remains cautious. The maximum pain point remains around $108,000, with a put/call options ratio of approximately 0.83. Hedging activity is active, but there are no signs of panic. Open interest is mainly concentrated in $100,000 put options and $120,000 to $125,000 call options, reflecting the current market stance on Bitcoin.
For Ethereum, recent price dips below $3,700 have led to a cautious but orderly market. The maximum pain point is near $3,800, with a put/call options ratio of about 0.9, indicating balanced and slightly defensive positioning. Open interest is concentrated around the $3,500 level.