Max Pain Levels Highlight Risk for Traders

[etfs]

Bitcoin’s max pain price sits at $98,000, ~14% above current levels, meaning many call holders could lose if prices don’t rebound. Ethereum’s max pain is $3,200, ~13% above its spot price. Despite the risk, traders maintain call exposure, suggesting optimism that prices may recover toward higher strikes in the near term.

[Abdul Khan]

Options expiry really puts pressure around these levels.