$3.82 billion worth of BTC and $950 million in ETH options are expiring today, with a maximum pain point of $118,000 and $4,250.

On August 22, Greeks.Live analyst Adam released today's options delivery data: 34,000 BTC options expired, with a Put Call Ratio of 1.3, a maximum pain point of $118,000, and a notional value of $3.82 billion. 220,000 ETH options expired, with a Put Call Ratio of 0.82, a maximum pain point of $4,250, and a notional value of $950 million. Analyst Adam stated that the theme of this week is price pullback, but both BTC and ETH remain near ATH, and market sentiment is still relatively optimistic. This week, nearly $5 billion in options are set to expire, accounting for 8% of the current total holdings, which is a relatively low percentage in historical records, contrasting sharply with the nearly $5 billion in high daily trading currently. From the main options data, there has been a significant rebound in implied volatility, with BTC's medium and short-term IV fully recovering to above 35%, while ETH's main term IV has not held at 70%, and short-term IV has broken through 80%. The options market has begun to show significant divergence, but overall, the forces bearish on future volatility are stronger.