Option delivery data on May 23rd25000 BTC options have expired, with a Put Call Ratio of 1.22, a maximum pain point of $104000, and a nominal value of $2.81 billion. 202000 ETH options have expired, with a Put Call Ratio of 1.26, a maximum pain point of $2450, and a nominal value of $570 million. The delivery data of Bitcoin and Ethereum this week is almost the same as last week, and this situation has been going on for three weeks. Although Bitcoin hit a historic high this week, the options market has not responded much. In yesterday's Space, it was mentioned that option data intuitively reflects that there are not many people with mainstream coins in the car during this bull market, and not many people make money from mainstream coins. This week, the short-term RV of Bitcoin rebounded to over 45%, but the IV remained at 45%, and the VRP of various maturities continued to fall. The delivery volume is less than 8% of the total holdings, and this proportion is continuously decreasing, proving that cryptocurrency institutions have not shown too much reaction to the new high of the big pie, and their expectations for the future are also relatively flat.