[July 11 Options Delivery Data]

37,000 BTC Options expire, Put Call Ratio is 1.05, maximum pain point $108,000, nominal value $4.3 billion.
240,000 ETH Options are set to expire, with a Put Call Ratio of 1.11, the maximum pain point at $2,600, and a notional value of $710 million.
The scent of a big bull market is in the air, Bitcoin has just reached a new all-time high, and Ethereum briefly reclaimed the key $3000 level, leading to a rare improvement in market sentiment. This week, over $5 billion in Options Delivery is set to occur, accounting for more than 10% of the current total open interest. Since there has been little market activity after the quarterly Options expiration, looking at the main Options data, the implied volatility for BTC remains low, with mid-term to short-term IV consistently at 35%. ETH's IV has slightly declined but still remains close to 60%. Recently, the 30% IV difference has persisted for several days, providing significant room for volatility strategies across different coins.
In the past two weeks, there have been a lot of large bullish trades, mainly due to building positions and rolling positions after the quarterly Delivery. The options market is far from Fomo, and institutional investors remain very calm.