价值近 3B 美元的比特币和以太坊期权今天到期，市场将如何反应？

随着近 30 亿美元的比特币和以太坊期权今天到期，加密货币市场即将迎来重大变动。确定了大量合同和最大痛点后，这些即将到期的期权将如何影响市场的波动？

output: As the crypto market braces for a day of substantial movements, nearly $3 billion in Bitcoin and Ethereum options are set to expire today. These expiring options will significantly impact the market's volatility, especially given the varying levels of involvement from both crypto heavyweights.

产出：随着加密货币市场即将迎来大幅波动，近 30 亿美元的比特币和以太坊期权将于今天到期。这些即将到期的期权将极大地影响市场的波动性，特别是考虑到两个加密货币重量级人物的参与程度不同。

According to Deribit data, approximately $2.34 billion in Bitcoin options will expire today, with a maximum pain point of $66,000 and a put-to-call ratio of 0.58. This expiration will see 36,732 contracts expiring, which is significantly less compared to last week's 61,320 contracts.

Deribit 数据显示，约 23.4 亿美元的比特币期权将于今日到期，最大痛点为 6.6 万美元，看跌期权比率为 0.58。本次到期合约将有 36,732 份到期，与上周的 61,320 份合约相比明显减少。

On the other hand, about 183,756 Ethereum options will expire today, with a notional value of $577.2 million, a maximum pain point of $3,300, and a put-to-call ratio of 0.55.

另一方面，约183,756份以太坊期权将于今日到期，名义价值为5.772亿美元，最大痛点为3,300美元，看跌期权与看涨期权比率为0.55。

In the crypto options market, the maximum pain point indicates the price level that inflicts the most financial discomfort on option holders. Meanwhile, the put-to-call ratio showcases a higher prevalence of purchase options (calls) over sales options (puts).

在加密货币期权市场中，最大的痛点表明给期权持有者带来最大财务不适的价格水平。与此同时，看跌期权与看涨期权比率显示，购买期权（看涨期权）比销售期权（看跌期权）更普遍。

Crypto options trading tool Greeks.live provides further insights into today's expiring options. They highlight a nearly 15% drop in the Dvol Index from 62% to 48% since July's monthly delivery, indicating a significant decrease in market volatility. Current implied volatility (IV) levels are among the lowest this year, with only three weeks with lower levels.

加密货币期权交易工具 Greeks.live 提供了对当今到期期权的进一步见解。他们强调，自 7 月份月度交割以来，Dvol 指数从 62% 下降了近 15%，至 48%，表明市场波动性显着下降。目前的隐含波动率 (IV) 水平是今年最低的，仅三周出现较低水平。

Greeks.live analysts note that market volatility has declined as important events like the Bitcoin 2024 Conference and FOMC meetings have landed smoothly. However, Adam, an analyst at Greeks.live, notes that the market currently lacks “hot spots,” and the Ethereum exchange-traded funds (ETF) will need to wait for steady positive inflows.

Greeks.live分析师指出，随着比特币2024年会议和FOMC会议等重要活动顺利落地，市场波动性有所下降。不过，Greeks.live 分析师 Adam 指出，目前市场缺乏“热点”，以太坊交易所交易基金（ETF）需要等待稳定的积极资金流入。

“The historical trend suggests that this quarter should be more optimistic overall, but with little short-term opportunity, it is the right time to buy some medium to long-term call options,” he adds.

“历史趋势表明，本季度总体上应该更加乐观，但由于短期机会很少，现在是买入一些中长期看涨期权的合适时机，”他补充道。

Starting the month at $66,342, Bitcoin dipped to $62,000 during Asia's midnight session today. At the time of writing, it has stabilized at around $64,714.

比特币本月初价格为 66,342 美元，今天亚洲午夜时段跌至 62,000 美元。截至撰写本文时，其已稳定在 64,714 美元左右。

In comparison, Ethereum experienced a sharper decline. From $3,317 on August 1, it dropped to $3,097 before rebounding to $3,178.

相比之下，以太坊的跌幅则更为剧烈。从 8 月 1 日的 3,317 美元跌至 3,097 美元，然后反弹至 3,178 美元。

Historically, options contract expirations tend to cause sharp but temporary price movements. The market usually stabilizes shortly after. Hence, traders are advised to remain vigilant, analyzing technical indicators and market sentiment to navigate potential volatility effectively.

从历史上看，期权合约到期往往会引起剧烈但暂时的价格波动。市场通常会在不久后稳定下来。因此，建议交易者保持警惕，分析技术指标和市场情绪，以有效应对潜在的波动。