Greeks.live: A total of 38,000 BTC options and 215,000 ETH options are expiring today, with a notional value of nearly $2.9 billion.

DeepFlowTech · 2026-02-13T07:08:37+00:00

On February 13th, data shows that the notional value of BTC and ETH options expiring is nearly $2.9 billion. Despite the market decline, implied volatility has decreased. Analysis indicates that the market is still in a bear market, and a rebound requires additional capital and consolidation.

DeepFlowTech

2026-02-13 07:08:37

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Deep Tide TechFlow News, February 13 — According to Greeks.live data, a total of 38,000 BTC options and 215,000 ETH options are expiring today, with a notional value of nearly $2.9 billion. The BTC options put-call ratio is 0.71, with the maximum pain point at $74,000; ETH options put-call ratio is 0.82, with the maximum pain point at $2,100.

Despite the ongoing market decline, the implied volatility of Bitcoin and Ethereum has decreased, with BTC’s main-term IV at 50% and ETH’s at 70%, indicating a slight easing of the downward price trend. Notably, block trades now account for 75% of transactions, with bullish options reaching a recent peak of approximately $1.7 billion, mainly deep out-of-the-money options in mid- to long-term maturities, showing that long-term investors are beginning to position for a rebound this year.

Analysts believe that although the market remains in a bear phase and the sharpest declines are over, the lack of incremental funds makes it premature to talk about a bull market or a major rebound. The market may need to undergo a period of consolidation and bottoming before a rebound can begin.

BTC-2,68%

ETH-6,36%

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