Updated options-expiry figures from Greeks.live show 32,000 Bitcoin options with $2.06 billion in notional value and 177,000 Ether options with $340 million coming due, with BTC's put/call ratio at 0.26 and maximum pain at $64,000, and ETH's put/call ratio at 0.77 with maximum pain at $1,900. Those readings differ modestly from an earlier Deribit tally that put the combined batch at about $2.3 billion, with ETH's put/call ratio at 0.73 and lower maximum pain levels of $63,500 for BTC and $1,800 for ETH. Greeks.live macro researcher Adam said Bitcoin has hovered near $64,000 for more than two months, while 9% of options expire this week, with out-of-the-money call positioning leaving gamma exposure dispersed and downside gamma more concentrated because put positioning remains light. The market view suggests speculative capital is not rotating into crypto, leaving the next directional move at risk of skewing lower.