Greeks.live researcher Adam posted on social media that 21,000 BTC options expire today, Put Call Ratio is 0.83, the maximum pain point is $98,000, and the nominal value is $2.10 billion. 164,000 ETH options expire today, Put Call Ratio is 0.68, the maximum pain point is $3700, and the nominal value is $640 million. This week's market is mainly adjusted. Unlike last week, the adjustment of Bitcoin this week is smaller, and the adjustment of counterfeit products is stronger. As Christmas and the annual delivery approach, market makers begin to adjust their positions. Recently, the transaction of bulk call options has been relatively high, with an average daily proportion of more than 30%. In previous years, the popularity of Christmas trading in Europe and the United States will drop significantly. This year, the influence of US stocks on crypto will increase, and this phenomenon may be more obvious. In the past two weeks, the options market data has been showing that market makers are more cautious. The volatile market has led to a small increase in the main term IV. Options are very suitable for short-term games at this time. This week's main transactions are also short-term PVP, and the cost-effectiveness of buying options is still very high.