🚨 Options Expiry Alert 🚨 At 8:00 UTC tomorrow, over $2.5B in crypto options are set to expire. BTC: $2.15B notional | Put/Call: 1.42 | Max Pain: $82K ETH: $408M notional | Put/Call: 1.13 | Max Pain: $2.55K Bitcoin's open interest is stacked through the $80K to $90K region, with elevated put activity showing traders leaned defensive into the move. Ether's positioning is concentrated across the mid 2000s strikes, with stronger put open interest below spot and active call interest higher up. With protection demand already increasing and volatility repriced, this expiry could act as a short term reset in dealer hedging flows. Expiry may remove positioning-related "gravity" around big strikes, so price behavior after 08:00 UTC may differ from the days leading into expiry. Keep an eye on here. Disclaimer: Deribit FZE is licensed by the Virtual Assets Regulatory Authority (VARA) for virtual asset exchange services, but does not offer derivatives to retail investors. DRB Panama Inc. is unregulated and serves retail and non-retail investors. Virtual assets are highly volatile, carry significant risk, and may lose full value. They are not insured or protected against potential losses.(Deribit)