According to online reports, a total of 141,271 bitcoin option contracts will expire on the Deribit Exchange this Friday, with a value of more than US$14 billion, accounting for more than 40% of the total open interest contracts. Among them, 81,994 are call options and the rest are put options. The current ratio of bitcoin puts to calls has risen to 0.72, partly due to the "cash-guaranteed puts" strategy. Lin Chen, head of Asian business development at Deribit, said that nearly 20% of expiring call options are in-the-money options, indicating that call option buyers have performed well this cycle. The biggest pain point this time due is $102,000. The latest market capital flow is neutral, with traders selling straddle options and selling call options with an exercise price of approximately $105,000 and short put options with an exercise price of $100,000 when they expire on June 27. Price volatility is expected to tighten before maturity, and implied volatility remains high.