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

ETH slid $51 from $2,453 at 09:45 to $2,401 by 18:30 UTC. Put writers added the most fresh OI at $2,200 (+3,523 ETH). Call writers built positions at $2,440–$2,600, led by $2,500 (+2,292 ETH). Max pain moved from $2,340 to $2,300, following price down.

Spot Max pain PCR 15-min · UTC

Open$2,418

High · 09:41$2,454

Low · 14:03$2,396

Avg PCR0.51

Max pain$2,300

Liquidations$7.7M

Key levels for the next session

$2,500 Call wall · 63,373 ETH OI · Fresh calls +2,292 ETH resistance

$2,440 Fresh calls +971 ETH cap

$2,415.68 Close ●

$2,380 Fresh puts +875 ETH support

$2,300 Max pain · Put wall · 43,750 ETH OI magnet

$2,200 Fresh puts +3,523 ETH support

Where writers added today

$2,500

+2,292 ETH

$2,440

+971 ETH

$2,600

+889 ETH

$2,200

+3,523 ETH

$2,380

+875 ETH

$2,350

+610 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 47.9%$57

Session range$59

One session moved 1.0× the next-day straddle's full priced move.

Last 6 sessions

10-14 $2,430 —
PCR 0.52
MP $2,400 10-15 $2,452 +22
PCR 0.53
MP $2,400 10-16 $2,432 -20
PCR 0.52
MP $2,360 10-17 $2,411 -21
PCR 0.51
MP $2,350 10-18 $2,420 +10
PCR 0.51
MP $2,340 10-19 $2,416 -5
PCR 0.51
MP $2,300

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, 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 →