According to The Block, the total value of cryptocurrency options on the Deribit derivatives exchange is around $9.4 billion, with over $6.3 billion worth of Bitcoin options and over $3 billion worth of Ethereum options set to expire this Friday.
The ratio of put options to call options for Bitcoin before the end of May increased to 0.68 compared to the previous week, indicating an increase in the number of put options relative to call options.
For Ethereum contracts, the ratio of put options to call options before Friday’s expiration is relatively low at 0.49. A ratio below 1 suggests that the trading volume of call options exceeds that of put options, indicating a bullish sentiment in the market.