BTC, ETH options worth $5.7 billion to expire for delivery today

On July 26, 61,000 BTC options will expire today with a Put Call Ratio of 0.62, a maximum pain point of $63,500 and a notional value of $4.1 billion, according to Greeks.live data.
490,000 ETH options expire today with a Put Call Ratio of 0.45, a maximum pain point of $3,350 and a notional value of $1.6 billion.
Greeks.live analyst Adam said that crypto markets entered a correction this week, with the ETH ETF listing bringing down ETH as expected, with the ETH/BTC exchange rate now at its lowest level in months. Major term IVs have rebounded significantly, with short-term term IVs in particular rebounding, generally by more than 10% compared to a week ago. With news of the Bitcoin conference to be digested over the weekend after today's monthly delivery, IVs will come under more downward pressure next week.