“ETH options call block volumes skyrocket, crossing the impressive milestone of $250 million, highlighting the growing confidence in Ethereum’s potential and the increasing demand for crypto derivatives.”
The market for options related to Ethereum (ETH) saw a significant increase in the trading of call options on October 30. Over 140,000 contracts were traded, indicating bullish sentiment among prominent investors. The majority of these transactions involved active buying of monthly options in the 1650/1700/1800 range set to expire on November 24.
According to a post from Greeks Live, a solution provider for crypto options traders, there has been an increase in put sells and put buys by 6.28 percent and 6.11 percent respectively. At the same time, call sells have increased by 11.14 percent and call buys by 12.85 percent. This data suggests a significant closeout of previous sell positions and an increase in short-term implied volatility.
The report from Greeks Live contradicts the sentiment expressed in a recent CoinShares report, which stated that Ethereum was experiencing outflows despite altcoins seeing inflows in response to Bitcoin optimism. The call block volumes represent an interesting dichotomy in the market.
Overall, the increase in trading of call options for Ethereum indicates a bullish outlook among investors. The market expects greater price volatility in the short term, as more investors are now betting on rising prices. It will be interesting to see how this trend plays out in the coming weeks.