🚨 Options Expiry Alert 🚨

Over $4.6B in crypto options expire tomorrow at 08:00 UTC on Deribit.

$BTC: $3.99B notional | Put/Call: 0.94 | Max Pain: $107K
$ETH: $609M notional | Put/Call: 1.04 | Max Pain: $2,550

Bitcoin hit $112K overnight, but with long gamma at $110K, dealer hedging may cap follow-through. $ETH sits in a negative gamma zone, moves could get outsized from here.