Leading cryptocurrency Bitcoin rose slightly after US non-farm employment and unemployment data.
At this point, as investors tried to predict Bitcoin's next move, all eyes turned to Bitcoin and Ethereum options that will expire today.
According to the news of Singapore-based crypto options data platform Greeks.live, 42,000 BTC and 220,000 ETH options will expire.
Accordingly, while the Put/Call Ratio of BTC options is 0.58, the maximum loss point is $30,000 and the notional value is $1.46 billion.
Looking at Ethereum, ETH options have a Put/Call Ratio of 0.55, a maximum loss point of $1,700, and a notional value of $390 million.
3 Nov Options Data
42,000 BTC options are about to expire with a Put Call Ratio of 0.58, a max pain point of $30,000 and a notional value of $1.46 billion.
220,000 ETH options are about to expire, Put Call Ratio is 0.55, max pain $1700, notional value $390 million.
BTC hit… pic.twitter.com/949uygPH5F— Greeks.live (@GreeksLive) November 3, 2023
The put/call ratio is calculated by dividing the number of put options by the number of call options. A ratio below 1 means there are more purchases than puts, indicating an upward trend.
A ratio above 1 means there are more put options than call options, indicating a bearish trend. A ratio close to 1 means the market is balanced or neutral.
This rate is 0.58 for Bitcoin and 0.55 for Ethereum. Accordingly, these rates indicate an upward trend for BTC and ETH. However, time will tell how these rates will affect the price.
*This is not investment advice.
