Grayscale Bitcoin Trust E... (GBTC)
Grayscale Bitcoin Trust ETF (BTC) Max Pain By Strike
GBTC trades at $88.17, 3.7% above the near-term max pain of $85 expiring Sep 5, 2025 (1 days). Price stability likely with balanced options positioning at this level. Max pain is falling across expirations ($66-$90), signaling increased put positioning or downside protection. Key magnetic zone at 88 where 3 expirations converge.
Grayscale Bitcoin Trust ETF (BTC) Max Pain By Expiry
Max pain for GBTC shows a downward trend from 90 to 66, indicating bearish sentiment or hedging activity. The 29% spread signals divergent expectations across timeframes. Most levels below 88.17 may cap rallies. Strong magnetic level at 88 (3 expirations). Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.
Max Pain Table
| Expiration Date | Max Pain | Max Pain vs Current Price |
|---|---|---|
| Sep 5, 2025 | 85 | -3.17 (-3.60%) |
| Sep 12, 2025 | 89 | 0.83 (0.94%) |
| Sep 19, 2025 | 84 | -4.17 (-4.73%) |
| Sep 26, 2025 | 88 | -0.17 (-0.19%) |
| Oct 3, 2025 | 88 | -0.17 (-0.19%) |
| Oct 10, 2025 | 90 | 1.83 (2.08%) |
| Oct 17, 2025 | 86 | -2.17 (-2.46%) |
| Dec 19, 2025 | 66 | -22.17 (-25.14%) |
| Jan 16, 2026 | 75 | -13.17 (-14.94%) |
| Mar 20, 2026 | 88 | -0.17 (-0.19%) |
| Jan 15, 2027 | 70 | -18.17 (-20.61%) |