Bitcoin and Ethereum options with a nominal value of 2.18 billion USD will expire and settle on March 13, including 26,000 BTC options expiring, with a Put Call Ratio of 0.9, a maximum pain point of 69,000 USD, and a nominal value of 1.8 billion USD; 182,000 ETH options expiring, with a Put Call Ratio of 1.21, a maximum pain point of 2,000 USD, and a nominal value of 380 million USD. From the options market data, the IV of short- and medium-term options declined this week, while the IV of medium- and long-term options rose, but the changes were small. The main term IV of BTC is at 50%, the main term IV of ETH is at 70%, and the decline in RV is more pronounced.