Greeks.live: Altcoins have adjusted strongly this week. As Christmas and annual settlement are approaching, market makers have begun to adjust their

Adam, a researcher at Greeks.live, posted on social media that 21,000 BTC options will expire today, with a Put Call Ratio of 0.83, a maximum pain point of $98,000, and a nominal value of $2.1 billion. Additionally, 164,000 ETH options will expire today, with a Put Call Ratio of 0.68, a maximum pain point of $3,700, and a nominal value of $640 million.

This week's market is mainly adjusting, with the difference from last week being that Bitcoin's adjustment amplitude is smaller this week, while the adjustment amplitude of altcoins is stronger. As Christmas and annual settlements approach, market makers begin to adjust their positions. Recently, the proportion of large bullish options transactions has been over 30% on average. In previous years, the trading activity in Europe and America during Christmas would noticeably decline. This year, the influence of the US stock market on crypto is rising, which may be even more pronounced.

Data from the options market in the past two cycles has consistently shown that market makers are more cautious, and the violent fluctuations in the market have driven the main term IV to rise slightly. Options are very suitable for short-term gambling at this point in time, and most of the transactions this week are short-term PVP. The cost-effectiveness of buying options is still high.