Bitcoin, Ethereum traders brace for $1.9B options expiry

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Bitcoin options expiry saw traders cut risk, with Greeks.live data pointing to weak activity, lower implied volatility, and defensive positioning. Summary Greeks.live said 21,000 Bitcoin options ...

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBitcoin, Ethereum traders brace for $1.9B options expiry\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-05-22 14:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://crypto.news/bitcoin-ethereum-traders-brace-for-1-9b-options-expiry/><strong>cryptonews</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Bitcoin options expiry saw traders cut risk, with Greeks.live data pointing to weak activity, lower implied volatility, and defensive positioning.\n\n\nSummary\n\n\n\nGreeks.live said 21,000 Bitcoin options ...</p>\n\n<a href=\"https://crypto.news/bitcoin-ethereum-traders-brace-for-1-9b-options-expiry/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ETHA","symbol_name":"以太坊ETF-iShares","start_time":0,"source_url":"https://crypto.news/bitcoin-ethereum-traders-brace-for-1-9b-options-expiry/","article_id":"2637393253","we_media_id":null,"thumbnails":[],"rights":{"source":"crypto_news_highlight","url":"https://crypto.news/bitcoin-ethereum-traders-brace-for-1-9b-options-expiry/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2637393253","pubTimestamp":1779430592,"columns":[],"sourceInfo":{"source_id":"crypto_news_highlight","name":"Crypto News"},"weMediaInfo":null,"summary":"Bitcoin options expiry saw traders cut risk, with Greeks.live data pointing to weak activity, lower implied volatility, and defensive positioning.Greeks.live said 21,000 Bitcoin options expired with $1.6 billion in notional value settled on Friday.Ethereum options activity cooled as 129,000 contracts expired, with ETH spot below max pain levels.Greeks.live said 21,000 Bitcoin options expired on May 22, carrying a put-call ratio of 0.66, a max pain level of $78,500, and $1.6 billion in notional value. The data also showed 129,000 Ethereum options expired, with a 0.92 put-call ratio, a $2,200 max pain level, and $280 million in notional value.Greeks.live said market activity stayed muted this week. Less than 5% of Bitcoin options expired, while Ethereum’s weekly settlement also made up only about 5% of open positions. The smaller share points to a lighter expiry compared with larger monthly settlement events.That fits the broader options market picture. Related reports noted that Deribit","collect":0,"end_time":0,"defaultTopTitle":"crypto.news","property":[],"viewcount":null,"language":"en","relate_stocks":{"ETHA":"以太坊ETF-iShares","BKCH":"AdvisorShares Sabretooth ETF","03046":"华夏以太币","EETH":"以太币期货ETF-ProShares","03009":"博时以太币","BITW":"Bitwise 10 Crypto Index ETF","YETH":"Roundhill Ether Covered Call Strategy ETF","QETH":"以太坊ETF-Invesco Galaxy","ETHD":"ProShares UltraShort Ether ETF","EZET":"以太坊ETF-Franklin","03439":"嘉实比特币","09008":"博时比特币-U","SETH":"1倍做空以太币期货ETF-Proshares","ETHE":"最大以太坊ETF-Grayscale","IBIT":"比特币ETF-iShares","09009":"博时以太币-U","LFGY":"YieldMax Crypto Industry and Tech Portfolio Option Income ETF","BTF":"比特币&以太币期货ETF-CoinShares","ETQ":"T-Rex 2X Inverse Ether Daily Target ETF","03008":"博时比特币","STCE":"Schwab Crypto Thematic ETF","BTC":"Grayscale Bitcoin Mini Trust","ETHT":"ProShares Ultra Ether ETF","BTC.AU":"Btc Health Ltd","ETU":"T-Rex 2X Long Ether Daily Target ETF","ETHU":"2倍以太币期货ETF-Volatility Shares","AETH":"以太坊策略ETF-Bitwise","09179":"嘉实以太币-U","BITO":"比特币期货ETF-ProShares","ARKY":"ARK 21SHARES ACTIVE BITCOIN ETHEREUM STRATEGY ETF","BETE":"等权重比特币&以太币期货ETF-ProShares","ETHV":"以太坊ETF-VanEck","09439":"嘉实比特币-U","BETH":"比特币&以太币期货ETF-ProShares","BITQ":"Bitwise Crypto Industry Innovators ETF","GDLC":"Grayscale CoinDesk Crypto 5 ETF","ETHW":"以太坊ETF-Bitwise","CETH":"以太坊ETF-21Shares","FETH":"以太币ETF-Fidelity","09042":"华夏比特币-U","09046":"华夏以太币-U","ETH":"低成本以太坊ETF-Grayscale","03179":"嘉实以太币","03042":"华夏比特币","BEGS":"RAREVIEW 2X BULL CRYPTOCURRENCY & PRECIOUS METALS ETF"},"translate_title":"比特币、以太币交易员准备迎接$1.9 B期权到期","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ETQ":0.6,"BITO":0.6,"IBIT":1.5,"QETH":1.5,"09439":1.5,"ETHW":1.5,"03042":0.9,"CETH":1.5,"BITW":1.5,"BKCH":1.5,"BEGS":1.5,"LFGY":1.5,"FETH":1.5,"09179":1.5,"SETH":0.6,"ETHU":1.5,"BETH":1.5,"STCE":1.5,"09046":1.5,"03046":0.89,"ETHE":1.5,"ETH":1.5,"ETU":1.5,"ETHV":1.5,"AETH":1.5,"ETHD":1.5,"03008":0.9,"03179":0.89,"BITQ":1.5,"ETHA":1.5,"ARKY":1.5,"EETH":1.5,"ETHT":1.5,"BTC.AU":1,"BTF":1.5,"BTC":1,"GDLC":1.5,"09042":1.5,"YETH":1.5,"METHmain":1.5,"EZET":1.5,"BETE":1.5,"03439":0.9,"09008":1.5,"03009":0.89,"09009":1.5},"content_text":"Bitcoin options expiry saw traders cut risk, with Greeks.live data pointing to weak activity, lower implied volatility, and defensive positioning.\n\n\nSummary\n\n\n\nGreeks.live said 21,000 Bitcoin options expired with $1.6 billion in notional value settled on Friday.\nEthereum options activity cooled as 129,000 contracts expired, with ETH spot below max pain levels.\nLower implied volatility and defensive whale trades point to weaker appetite after Bitcoin’s rally stalled.\n\n\n\nGreeks.live said 21,000 Bitcoin options expired on May 22, carrying a put-call ratio of 0.66, a max pain level of $78,500, and $1.6 billion in notional value. The data also showed 129,000 Ethereum options expired, with a 0.92 put-call ratio, a $2,200 max pain level, and $280 million in notional value.\nThe expiry came after Bitcoin’s one-and-a-half-month rally lost momentum. Bitcoin (BTC) traded near $77,500 on May 22, while Ethereum (ETH) held close to $2,130, according to crypto.news data. That placed Bitcoin near the BTC max pain level and Ethereum below its ETH level.\nTraders show less appetite for risk\nGreeks.live said market activity stayed muted this week. Less than 5% of Bitcoin options expired, while Ethereum’s weekly settlement also made up only about 5% of open positions. The smaller share points to a lighter expiry compared with larger monthly settlement events.\n\nMay 22 Options Data21,000 BTC options expired, with a put-call ratio of 0.66, a maximum strike price of $78,500, and a notional value of $1.6 billion.129,000 ETH options expired, with a put-call ratio of 0.92, a maximum strike price of $2,200, and a notional value of $280… pic.twitter.com/KrjDMoBad9— Greeks.live (@GreeksLive) May 22, 2026\n\nThe firm said the BTC settlement volume was modest, and the max pain level sat close to spot price. That made the gamma and pin effect more visible near expiry, as traders watched whether Bitcoin would stay near the $78,500 area before settlement.\nMeanwhile, Ethereum’s options flow also weakened. Greeks.live said ETH settlement volume was about half of last week’s level, while spot price stayed below the $2,200 max pain level. That kept traders focused on whether ETH could regain the settlement zone after a slow week.\nThe firm added that the short rise in Ethereum options share this month had ended. It said “IV is likely to decline in the short term after settlement.” The statement points to a cautious view, not a confirmed market move.\nLower volatility shapes next setup\nGreeks.live said skew continued to fall slightly, while implied volatility dropped across major maturities. Bitcoin’s implied volatility fell below 35% across key terms, while Ethereum’s dropped below 50%, with short-term levels expected to move lower.\nThat fits the broader options market picture. Related reports noted that Deribit’s Bitcoin options open interest reached $31.3 billion on May 21, while a larger May 29 expiry carries $6.25 billion in contracts and a $75,000 max pain level.\nEarlier market coverage also showed the same cooling pattern. Around 25,000 Bitcoin options worth more than $2 billion expired on May 15, with traders watching near-term downside risk despite a lower put-call ratio.\nFor now, structured trades are leading volume, while whales continue to build low-cost protection. Greeks.live said volatility expectations remain low and market enthusiasm is weaker than expected. That keeps the focus on whether Bitcoin can defend current support or drift toward lower option strikes.\n\n\n\n\n\n                Read more:\n            \n\n                How France is fighting crypto wrench attacks after Sandbox case","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.2","shortVersion":"4.42.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2637393253","isCrawlerRequest":true}