Deribit data shows that $7.5 billion in crypto options are due to expire tomorrow, with Bitcoin options representing $6.21 billion and Ethereum options totaling $1.29 billion. The Bitcoin contracts carry a put-to-call ratio of 0.88 and a max pain level of $75,000, while Ethereum options show a 0.81 put-to-call ratio and a $2,200 max pain level. Large options expiries are closely watched because they can affect short-term price positioning and hedging activity in the crypto market.