May 22 expirations included 21,000 BTC options with a $1.6 billion notional and 129,000 ETH options worth $280 million.
Over 21,000 BTC options expired on May 22, carrying a notional value of $1.6 billion and a put-call ratio of 0.66. The maximum strike price reached $78,500, reflecting bullish sentiment among traders.
In parallel, 129,000 ETH options expired with a notional value of $280 million and a put-call ratio of 0.92. The highest strike price for ETH options was $2,200, indicating a more balanced market outlook compared to BTC.
The expirations mark one of the largest monthly settlements in crypto derivatives, potentially influencing short-term price volatility in both BTC and ETH markets.