BTC options worth $3.8B to expire on August 22

Nearly $3.8 billion worth of Bitcoin (BTC) options are set to expire at 08:00 UTC on Aug. 22, according to data from crypto options exchange Deribit. The put/call ratio stands at 1.30, and the max pain price is $118,000. At the same time on the same day, around $930 million in Ethereum (ETH) options will mature. The put/call ratio is 0.83, and the max pain price is $4,250. The max pain price is when the cryptocurrency price settles at a specific value as an option nears its expiration date, resulting in financial losses for the largest number of options traders.