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🧠 Crypto Word of the Day — Max Pain Price The strike price in an options market at which the maximum number of options contracts (both calls and puts) expire completely worthless. According to financial theory, option writers (typically large institutions) have an incentive to push spot prices toward the max pain level near option expiration dates. Why it matters today: With over $5 Billion in Bitcoin options open interest clustered between $70,000 and $72,000 for upcoming expiries, market makers are navigating a significant liquidity gap. Knowing where the options max pain level sits helps traders anticipate where spot prices may gravitate as major expiration dates approach.