[September 19 Options Delivery Data]

29,000 BTC Options are expiring, the Put Call Ratio is 1.35, the maximum pain point is $115,000, and the notional value is $3.4 billion.
178,000 ETH Options are set to expire, with a Put Call Ratio of 1, a maximum pain point of $4,500, and a nominal value of $810 million.
Bitcoin and Ethereum prices saw a good rebound in September, with the highly anticipated Federal Reserve interest rate decision being an expected 25 basis points. Both BTC and ETH are less than 10% below their historical highs, and market sentiment has started to shift from pessimistic to neutral.
From the main options data, the implied volatility has receded, with BTC's medium to short-term IV dropping below 30%, and ETH's main term IV also fully below 60%, with medium to short-term IV falling below 50%, indicating that volatility has entered a low level. The large transaction volume and trading proportion of put options have been continuously rising this month, with hedging being the main objective now.
At the same time, this month is the delivery month for the third quarter. Historically, the market in September tends to be relatively weak due to various reasons such as institutions extending their positions and settlements. Overall, the market is generally weak, and confidence in the options market regarding the September trend is insufficient.