[November 14 Options Delivery Data]

41,000 BTC Options are set to expire, the Put Call Ratio is 0.61, the maximum pain point is $105,000, and the notional value is $3.95 billion.
228,000 ETH Options are set to expire, with a Put Call Ratio of 0.59, maximum pain point at 3475 USD, and a notional value of 730 million USD.
Both Bitcoin and Ethereum prices are continuing to decline. Currently, BTC has fallen below the $100,000 mark, with no significant signs of a rebound. ETH has recorded three consecutive monthly declines, and market sentiment is beginning to shift from neutral to negative.
From the main options data, the implied volatility has fully rebounded, with the mid to short-term IV of BTC approaching 50%, averaging around 45%. The main term IV of ETH is also significantly above 70%, with the mid to short-term IV nearing 100%, and volatility expectations continue to rise.
The trading volume and proportion of bearish Bitcoin Options block trades continue to rise, with a current trading proportion of 30% being the norm, and hedging is the main goal now. The market performance in the fourth quarter of this year can be described as the worst in recent years, due to macroeconomic uncertainties and other factors, there is significant market divergence, making leveraged operations inadvisable.