Asian-session sell-off, losses pared into the close

A steady start gave way at 04:45 UTC and ETH slid $120 to $2,479. Put writers added the most fresh OI at $2,400 (+873 ETH). Call writers built positions at $2,350–$2,540, led by $2,540 (+1,683 ETH). Max pain held at $2,100 all session.

Spot Max pain PCR 15-min · UTC

Open$2,589

High · 04:43$2,605

Low · 05:11$2,463

Avg PCR0.56

Max pain$2,100

Liquidations$25.4M

Key levels for the next session

$2,540 Fresh calls +1,683 ETH cap

$2,500 Call wall · 106,825 ETH OI resistance

$2,497.88 Close ●

$2,400 Fresh puts +873 ETH support

$2,200 Put wall · 26,950 ETH OI floor

Where writers added today

$2,540

+1,683 ETH

$2,350

+834 ETH

$2,400

+675 ETH

$2,400

+873 ETH

$2,500

+95 ETH

$2,600

+80 ETH

■ calls ■ puts · OI change from the first snapshot to the close, strikes near spot

Move vs what options priced

Next-day ATM straddle at open · IV 74.8%$109

Session range$142

One session moved 1.3× the next-day straddle's full priced move.

Last 6 sessions

08-17 $1,912 —
PCR 0.51
MP $1,950 08-18 $1,916 +4
PCR 0.50
MP $1,950 08-19 $2,256 +340
PCR 0.51
MP $2,000 08-20 $2,326 +70
PCR 0.54
MP $2,000 08-21 $2,589 +263
PCR 0.54
MP $2,100 08-22 $2,498 -91
PCR 0.56
MP $2,100

Max pain: strike where option buyers lose most at expiry. Fresh OI: positions opened this session. PCR: put OI ÷ call OI.

Descriptive summaries of recorded option-chain data. Not trading signals or advice. Disclaimer →

Asian-session sell-off, losses pared into the close

Key levels for the next session

Where writers added today

Move vs what options priced

Last 6 sessions

Related reading

Max pain today →

PCR today →

BTC vs index options →