Researcher: The spot bull market is robust, and 40% of the options will expire next month

Bitget news, Adam, a macro researcher at Greeks.live, shared the options delivery data for November 29 on platform X. 98,000 BTC options expired with a Put Call Ratio of 0.84 and the biggest pain point being $80,000 USD; its nominal value was $94.8 billion USD. Also, 412,000 ETH options expired with a Put Call Ratio of 0.75 and the biggest pain point being $2900 USD; its nominal value was $1.47 billion USD.

Bitcoin's attempt to reach $100k was hindered while ETH led the market this week as altcoins rebounded in rotation. As we mentioned in yesterday's Space session too that any risks from Bitcoin’s rally ending were absorbed by Ethereum which has been steadily bullish in spot markets.

This week saw over 20% of positions expiring and next month will be year-end options when about 40% of positions will expire causing significant rollovers and Christmas trading could put pressure on implied volatility.

The current market atmosphere is very optimistic but institutions are cautious about replicating end-of-2020 trends hence making option markets more prudent.