Greeks.live: 39,000 BTC and 280,000 ETH options are about to expire, and ETH's biggest pain point is $4,000.

According to Greeks.live, 39,000 BTC options expired on August 15th, with a maximum price drop of $118,000 and a notional value of $4.6 billion. 280,000 ETH options expired, with a maximum price drop of $4,000 and a notional value of $1.3 billion. This week's total options deliveries were nearly $6 billion, representing 9% of total current open interest. BTC and ETH prices reached record highs, fueling extremely bullish market sentiment. Implied volatility data shows that BTC's short-term IV remains below 35%, while ETH's main-term IV is as high as 70%, consistent with expectations of potential volatility. The options market has recently exhibited significant divergence, with frequent block trades and significant trading in both bullish and bearish options.