What to Expect from Bitcoin, ETH, XRP, Solana Options Expiry and US Nonfarm Payrolls Today?

Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL) are falling as the U.S. Navy and Iran trade attacks, while President Trump confirms the ceasefire remains in effect. Traders are bracing for volatility as crypto options expiry coincides with the US Nonfarm payrolls and unemployment rate data release today.

Almost $2 Billion in Bitcoin and ETH Options to Expire

Almost 20K Bitcoin options with a notional value of $1.59 billion are set to expire on the largest derivatives crypto exchange Deribit on May 8. The put-call ratio is 0.73, indicating a bullish sentiment despite BTC price dropping more than 4% to $79K this week, especially after US initial jobless claims rose to 200K.

In the last 24 hours, call volume is still higher than put volume. The put-call ratio is 0.66, indicating traders are bullish. Deribit data shows high volume options trading for the September 25 expiry, targeting $130,000 and $110,000 strikes prices.

Moreover, the max pain price is at $79,500, lower than the current market price of $79,676. However, traders expect Bitcoin to reclaim $80,000 in the coming days.

GreeksLive revealed that Bitcoin’s short-term implied volatility (IV) saw a slight increase, but primary short-term IV stays around 35%. “Skew remains relatively stable with a very slight increase, and the market’s directional sentiment remains neutral,” it added.

Deribit claimed that positioning has rotated strongly back to calls in just a week. Moreover, Bitcoin max pain is climbing week on week.

Meanwhile, over 180K ETH options with a notional value of almost $410 million are set to expire today, with a put-call ratio of 0.94. Traders are opening $2300, $2350, and even $2200 put options, expecting further profit booking despite the Senate Banking Committee’s plans for CLARITY Act markup notice today.

The max pain point is at $2,350, above the current market price of $2,281. Moreover, the data shows a 66% probability of expiring above $2,250. Deribit highlighted that the max pain price is rising week by week.

The put volume has increased significantly in the last 24 hours. The put-call ratio is 1.03, indicating a slight bearish sentiment. GreeksLive noted that ETH’s primary short-term IV is near 50%, while both medium- and long-term IVs are also declining.

XRP and Solana Crypto Options Expiry

XRP options worth $2.36 million to expire, with a put-call ratio of 2.34. The max pain price is at $1.40, indicating the key level to watch amid XRP whale flow.

XRP price today is trading 2% lower at $1.38, with an intraday low and high of $1.38 and $1.42, respectively. Moreover, trading volume has declined by more than 34% over the last 24 hours, indicating low interest among traders.

Meanwhile, $11.12 million in Solana options to expire, with a put-call ratio of 0.46. The max pain price is $86, lower than the current market price of $88.20.

SOL price is trading 1.80% down in the last 24 hours, with a 24-hour low and high of $87.68 and $89.99, respectively. Trading volume has plunged 24% over the last 24 hours, indicating a lack of interest ahead of the key jobs report.

Crypto Traders Brace for US Nonfarm Payrolls Jobs Data Today

Crypto market traders are bracing for massive volatility due to a key jobs data release today. The US Bureau of Labor Statistics will release April’s Nonfarm Payrolls and unemployment rate.

The Bureau of Labor Statistics’ closely watched jobs report on Friday is likely to show nonfarm payrolls ​increased by 62,000 jobs last month. Notably, payrolls increased massively to 178,000 last month.

The unemployment rate is expected to remain unchanged at ​4.3%, but some economists believe it could rise to 4.5%. More signals of a strong labor market will increase the risks of a crypto market crash, despite Kevin Warsh’s nomination.

Goldman Sachs estimates Nonfarm payrolls to rise by 75,000 in April, slightly above consensus. The bank expects a 5,000 decline in government payrolls. “Unlike the last few months, we expect weather and worker strikes to have a limited impact on this report,” as per a report.