August 29 Options Data This week's theme remains price correction. Last Friday's rapid rally failed to sustain momentum, with both BTC and ETH retreating over 10% from all-time highs. However, market sentiment remains relatively optimistic. With nearly 14 billion in options expiring this week—accounting for over 20% of current open interest—the market has entered a volatile consolidation phase. Key option metrics show implied volatility (IV) rebounding across terms. BTC's medium term IV hovers around 35%, while ETH's primary terms remain below 70% with short-term IV dipping to 60%, indicating a tug-of-war in IV dynamics. Concurrently, this month has seen a surge in block trades, with put block trades notably increasing. Today, put option block trades accounted for 35% of total volume, marking a new high in recent months. A substantial volume of protective block trades indicates that the options market overall lacks confidence in September's market performance.(Greeks.live)