European-session sell-off, closes near the lows

A steady start gave way at 08:15 UTC and ETH slid $111 to $2,421. Put writers added the most fresh OI at $2,300 (+3,949 ETH). Call writers built positions at $2,460–$2,580, led by $2,520 (+1,815 ETH). Max pain held at $2,400 all session.

Spot Max pain PCR 15-min · UTC

Open$2,508

High · 08:10$2,536

Low · 21:10$2,416

Avg PCR0.52

Max pain$2,400

Liquidations$18.4M

Key levels for the next session

$2,580 Fresh calls +1,613 ETH cap

$2,520 Fresh calls +1,815 ETH cap

$2,500 Call wall · 54,961 ETH OI resistance

$2,429.98 Close ●

$2,400 Max pain · Fresh puts +3,562 ETH magnet

$2,300 Fresh puts +3,949 ETH · Put wall · 53,559 ETH OI support

Where writers added today

$2,520

+1,815 ETH

$2,580

+1,613 ETH

$2,460

+1,505 ETH

$2,300

+3,949 ETH

$2,400

+3,562 ETH

$2,600

+1,773 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 43.4%$53

Session range$121

One session moved 2.3× the next-day straddle's full priced move.

Last 6 sessions

10-09 $2,498 —
PCR 0.58
MP $2,400 10-10 $2,515 +17
PCR 0.57
MP $2,400 10-11 $2,546 +31
PCR 0.56
MP $2,400 10-12 $2,455 -90
PCR 0.54
MP $2,400 10-13 $2,507 +52
PCR 0.52
MP $2,400 10-14 $2,430 -78
PCR 0.52
MP $2,400

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 →

European-session sell-off, closes near the lows

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 →