The post 200,000 ETH Options Expiry Spurs Demand appeared on BitcoinEthereumNews.com.

Investors are bullish on Ethereum as the industry awaits the launch of Spot Ethereum ETFs. This sentiment is relayed through the recent expiration of Ethereum options contracts and the put-call ratio. According to data, over 200,000 ETH options recently expired, and the crypto community eagerly awaits the direction of the Ethereum price. Related Reading Notably, the majority of the expiring ETH options are call options, meaning buyers are betting the price will rise. At the same time, the put-call ratio is at 0.36. This low value means market participants are currently buying more call options than put options.  Options Show Surging Ethereum Demand Options are contracts that give buyers the right, but not the obligation, to buy or sell an asset at a specific price on or before a certain date. If the Ethereum price is above the strike price of these options at expiry, buyers will likely exercise their right to buy ETH at a discount, which would drive the price up further. According to data, participants in the options market are betting on Ethereum’s price increase despite the recent stagnation around $3,500. Particularly, the data shows that 200,000 ETH options worth $710 million recently expired due to Ethereum’s failure to break above the $3,600 price mark. ETH is now trading at $3,559. Chart: TradingView This means most options traders were betting Ether would be trading higher by now. Despite this, the sheer number of call options suggests the amount of demand pressure Ethereum is currently facing, which is set to continue into the next month. Hence, this is a good time for investors to lay out plans for next month’s call options.  14 June options delivery data20,000 BTC options expired with a Put Call Ratio of 0.49, a maximum pain point of $68,500 and a notional value of…

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Filed under: News - @ June 16, 2024 12:26 pm