Bullish Sentiment for Ether Options as Expiry Approaches
Ether options on multiple centralized derivatives exchanges expired on Friday at 3:00 a.m. ET. Prior to the expiry, the put-call ratio for ether options had fallen to 0.31, indicating a bullish sentiment in the market. A put-call ratio below 0.7 is typically seen as bullish.
When the put-call ratio is below one, it suggests that there are more options to buy (calls) than options to sell (puts), indicating a prevailing bullish sentiment in the market.
The largest cohort of open interest by volume for ether options is now calls for the Feb. 16 expiry at a strike price of $2,350. This indicates a bullish outlook, with many traders expecting the price of ether to rise above this level by mid-February.
The price of ether has increased by almost 2% in the past 24 hours, trading at $2,249 at 10:00 a.m. ET.
Hot Take: Ether Options Expiry Reflects Bullish Sentiment
The recent expiry of ether options on multiple centralized derivatives exchanges has highlighted a bullish sentiment in the market. With a low put-call ratio and significant open interest in calls for future expiries, traders are anticipating a rise in the price of ether. This positive outlook is supported by the recent increase in ether’s price. As the crypto market continues to evolve, it is important to stay informed about these market dynamics to make informed investment decisions.
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