Bitcoin options worth $1.85B set to expire today

Bitcoin options with a notional value of $1.85 billion are set to expire at 8:00 a.m. UTC on Jan. 2, according to data from crypto options exchange Deribit. The contracts have a put/call ratio of 0.48 and a max pain price of $88,000, the point at which the largest number of options would expire worthless. Additionally, Ethereum options worth $390 million will expire at the same time. These options have a put/call ratio of 0.62 and a max pain price of $2,950.