[November 28 Options Delivery Data]

143,000 BTC Options expired, the Put Call Ratio is 0.51, the maximum pain point is $98,000, and the nominal value is $13 billion.
572,000 ETH Options are set to expire, with a Put Call Ratio of 0.48, the maximum pain point at $3,400, and a notional value of $1.71 billion.
Bitcoin and Ethereum prices have significantly dropped this month, only stabilizing and rebounding at the end of the month. Currently, BTC has stabilized at the $90,000 level, while ETH has seen three consecutive monthly declines and is currently fluctuating around $3,000. Market sentiment has improved significantly compared to last week.
From the main options data, the implied volatility has fully rebounded compared to last month, with the average IV for major BTC maturities around 45%, and the major IV for ETH below 70%, both of which are relatively high levels this year.
Before and after the delivery, the trading volume and trading proportion of Bitcoin options have continued to rise, mainly due to the demand for rolling over positions, but the large transactions of Ethereum are very few, which reflects different market characteristics.
This year's fourth quarter market can be said to be the worst in history. Due to macroeconomic uncertainties and other factors, there is a significant divergence in the market, making leveraged operations inadvisable.