ChainCatcher reported that Adam, a macro researcher at Greeks.live, posted on X platform stating that this Friday, the 26th, more than half of the total open interest in options will expire. Currently, rolling positions dominate the trading volume, but this will introduce significant signal noise to the cryptocurrency market. In recent days, it is not advisable to rely on options data as trading signals.
For example, today, Put block trades accounted for 30% of the volume, but this is not a bearish signal. There were many transactions in deep out-of-the-money and in-the-money put options. Of course, it should not be interpreted as institutional positioning views either, as many institutions roll their positions early to mitigate pin risk ahead of a large number of option expirations.
