23000 BTC and 177000 ETH options are set to expire today

Greeks.live analyst Adam stated that 23000 BTC options will expire on April 18th, with a Put Call Ratio of 0.96, a maximum pain point of $82000, and a nominal value of $1.97 billion. 177000 ETH options have expired, with a Put Call Ratio of 0.84, a maximum pain point of $1600, and a nominal value of $280 million. In addition, Adam's analysis suggests that the market has become much milder this week, with less news released by Trump this week, and the market has cooled down immediately. At present, the short-term RV is only 30%, and IV has also dropped significantly this week, falling below 40%. In the medium to long term, RV ranges from 50% to 60%, while IV is concentrated around 50%. The expected trade war and tariff war are far from over, and market uncertainty will continue for a long time, with market fluctuations also expected to persist for a long time. The delivery volume accounts for less than 10% of the total holdings, and PCR has been maintaining a high level recently, reflecting that the market's concerns about a decline have clearly outweighed expectations of an increase. The option holdings in April and June remained around 25%, indicating a relatively stable market structure and a high possibility of sideways trading. But now is the painful period of a complete bull to bear transition, and investor sentiment is relatively low. In this poor bull to bear market, the probability of a black swan occurring will significantly increase, and buying some deep bearish values would be a good choice.