I tried considering that according to LCAO-MO theory $\ce{O2}$ is paramagnetic, which is confirmed by experimental evidence. Since octaoxygen has the crystal structure in figure, I thought there is a kind of overlapping of the molecular orbitals $\pi^{\ast}$ of each $\ce{O2}$ with the others so that the unpaired electrons of one molecule pair with the unpaired electrons of the adjacent molecule, one by one.
I realise this is only an intuitive answer, but I am not much acquainted with quantum mechanics and applied group theory.