Daily digest / ETH / 2026-08-25 · this week
ETH · Tuesday 25 Aug 2026 (UTC) · close
$2,446.07 -114.1 (-4.46%)
$12.9M liquidated

Asian-session sell-off, closes near the lows

A steady start gave way at 02:30 UTC and ETH slid $168 to $2,431. Put writers added the most fresh OI at $2,400 (+5,207 ETH). Call writers built positions at $2,520–$2,580, led by $2,540 (+2,943 ETH). Max pain held at $2,100 all session.

Spot Max pain PCR 15-min · UTC
Open$2,560
High · 02:29$2,600
Low · 21:09$2,425
Avg PCR0.55
Max pain$2,100
Liquidations$12.9M

Key levels for the next session

$2,580 Fresh calls +2,489 ETH cap
$2,540 Fresh calls +2,943 ETH cap
$2,500 Call wall · 107,430 ETH OI resistance
$2,446.07 Close ●
$2,400 Fresh puts +5,207 ETH support
$2,200 Fresh puts +3,570 ETH · Put wall · 30,692 ETH OI support

Where writers added today

$2,540
+2,943 ETH
$2,580
+2,489 ETH
$2,520
+2,347 ETH
$2,400
+5,207 ETH
$2,200
+3,570 ETH
$2,250
+3,559 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 65.0%$106
Session range$176
One session moved 1.7× the next-day straddle's full priced move.

Last 6 sessions

08-20 $2,326 —
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 08-23 $2,543 +45
PCR 0.56
MP $2,100 08-24 $2,560 +17
PCR 0.55
MP $2,100 08-25 $2,446 -114
PCR 0.55
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 →

Related reading

Max pain today →

Live aggregate max pain lander.

PCR today →

Current put-call ratio snapshot.

BTC vs index options →

How crypto expiry and settlement differ.

All ETH sessions · BTC hub · Live terminal →