As December's first weekly options expiration arrives, the market's focus shifts to year-end expirations, with over half of the total open interest concentrated in December contracts. Historically, December options trading is dominated by annual expirations, with significant trading volumes in the fourth quarter, particularly for year-end contracts. This month, strong demand for rolling positions is expected to boost open interest for the first quarter of 2026. Bitcoin call options expiring at year-end remain the most popular, while large trades in Ethereum options are less frequent. Data shows a notable decline in Skew and Implied Volatility (IV), indicating a calming of short-term market panic. The prevailing strategy is to capitalize on rebounds. However, there is a significant proportion of traders actively purchasing Ethereum put options, suggesting caution against potential ETH declines. Market sentiment for Ethereum still requires time to recover, though continued buying by Tom Lee may help bolster confidence.