#比特币期权交割 The $28 billion options expiration just concluded, and the data is quite interesting — out-of-the-money call options make up the majority of BTC's 267,000 options, with a Put/Call ratio of only 0.35, indicating that more market participants are still bullish. After the expiration, March quarter options have taken over as the main focus, accounting for over 30% of open interest, continuing to be dominated by out-of-the-money calls.

What does this mean? Market participants are preparing for the next wave of price movement, but the current sentiment is not very optimistic — Q4 has historically been the worst quarter, which actually gives us an opportunity. Seller strategies tend to be more profitable during downturns. If you have a solid options foundation, consider deploying strategies when volatility is low to collect time decay. For beginners, it's better not to force options trading; returning to basic interactions and earning airdrops is more stable. Wait until the market moves before trying other strategies.

One final tip: pay attention to the $95,000 level, which is the biggest pain point for BTC. If the price oscillates around this level, it usually indicates that institutions are maintaining market balance. This kind of information is very useful for short-term directional judgment.