May 16 Options Data 27,000 BTC options expired with a Put Call Ratio of 1.03, a Maxpain point of 100,000 and a notional value of 2.76 billion. 220,000 ETH options expired with a Put Call Ratio of 1.36, a Maxpain point of 2,300 and a notional value of 570 million. This week's Bitcoin delivery numbers are almost indistinguishable from last week's, and Ether has almost the same numbers excluding price. Sentiment in the market is very good right now, but the options data visualizes that not many mainstream coins are on board at the moment, and not many people are making money off of them. Bitcoin's short and medium term RVs have now fallen below 35%, with both medium and long term near 50%, but IVs have fallen even more dramatically, almost all below 45%, so the VRPs for all terms have in turn fallen back. Deliveries are less than 9% of the total position, and the proportion of puts continues to be high this month, a phenomenon that may not shift significantly until June, the market is more optimistic about what's coming next, but there are not many people who are long BTC in the short term.