Greeks.live researcher: After today's settlement, the largest open interest will be in the March expiring quarterly options, mainly consisting of out-of-the-money call options.

BlockBeats News, December 26, Greeks live macro researcher @BTC__options stated that today is the annual major options expiration day, and also the largest crypto options expiration day in history, with a total notional value of approximately $28 billion. Among them, Bitcoin BTC has 267,000 options expiring, with a Put/Call ratio of 0.35, a max pain price of $95,000, and a notional value of about $23.6 billion; Ethereum ETH has 1.28 million options expiring, with a Put/Call ratio of 0.45, a max pain price of $3,100, and a notional value of about $3.71 billion.

Today, more than half of the options are settled. Before settlement, block trading volume and the proportion of options trading continued to rise, mainly due to the need for position rolling; after settlement, the quarterly options expiring in March will become the largest position, accounting for more than 30% of the total, mainly consisting of out-of-the-money call options.

This year's fourth quarter market performance can be described as the worst in history. Due to industry cycle factors and slow development, market sentiment is poor, making it more suitable for seller strategies.