$BTC A massive $11.85 billion options expiry is set to take place this Friday, with current positioning suggesting that the market’s so-called max pain levels remain significantly above spot prices.
The latest data shows:
BTC Max Pain: $72,000, approximately 15% above current spot prices.
ETH Max Pain: $2,000, roughly 20% above current market levels.
Unlike many previous expiries where max pain levels sat below the market and acted as a downside magnet, the current setup points in the opposite direction. The concentration of open interest implies that higher prices would inflict the greatest losses on options holders, placing the expiration magnet above current trading ranges.
As a result, traders should expect elevated volatility heading into the weekend, particularly if market makers and hedging flows begin to influence price action around these key levels. Whether prices ultimately gravitate toward the max pain zones remains uncertain, but the positioning suggests that both BTC and ETH could experience significant movement as the expiry approaches.
The latest data shows:
BTC Max Pain: $72,000, approximately 15% above current spot prices.
ETH Max Pain: $2,000, roughly 20% above current market levels.
Unlike many previous expiries where max pain levels sat below the market and acted as a downside magnet, the current setup points in the opposite direction. The concentration of open interest implies that higher prices would inflict the greatest losses on options holders, placing the expiration magnet above current trading ranges.
As a result, traders should expect elevated volatility heading into the weekend, particularly if market makers and hedging flows begin to influence price action around these key levels. Whether prices ultimately gravitate toward the max pain zones remains uncertain, but the positioning suggests that both BTC and ETH could experience significant movement as the expiry approaches.