PANews reported on May 8th that, according to data from Greeks.live, 20,000 BTC options and 182,000 ETH options expired on May 8th. The BTC options put-call ratio was 0.73, with a maximum price target of $79,500 and a notional value of $1.6 billion; the ETH options put-call ratio was 0.93, with a maximum price target of $2,350 and a notional value of $410 million.

Bitcoin rose from $75,000 to $82,000 this week before retreating last night. Despite the positive market performance, sentiment remained relatively calm. Implied volatility (IV) and short-term realized volatility (RV) for major time options were largely unchanged from last week, with a slight increase in short-term RV. Bitcoin's major short-term IV is around 35%, ETH is around 50%, and both medium- and long-term IVs have slightly decreased. Looking at major options data, Skew is relatively stable with a very small increase, indicating a neutral market sentiment. Only 5% of options expired this week, resulting in extremely low options activity, and futures trading volume also reached a historical low. There were approximately 20% open interest at the end of May and approximately 30% at the end of June, with relatively inactive block trades – all signs of consolidation. Greeks.live points out that while Bitcoin performed well in terms of price and hype in the second quarter of this year, overall market enthusiasm remains low. The current strategy focuses on positioning for medium- and long-term Bitcoin options, while also offering some cost-effective opportunities in high-quality altcoins.