What Bitcoin Option Action Tells us for September (Patreon)

Here is the side-by-side view of August vs September. The puts are positioned for another leg down in September while the calls are positioned for a continuation of the rally.

For the calls - Bullish Bets:

August 74% above the $21k strike | September 89% above the $21k strike.

August 43% above the $25k strike | September 77% above the $25k strike.

August 8%  above the $30k strike | September 52% above the $30k strike.

For the puts - Bearish Bets:

August 77% below the $21k strike | September 69% below the $21k strike.

August 21% below the $15k strike | September 55% below the $15k strike.

August 0.5% below the $10k strike | September 5% below the $10k strike.

In Summary - the skew is heavily Bullish with Max Pain at $25K despite the macro backdrop and fed unknowns.