TL;DR
- All-Time Record Trading Volume: January marked a milestone with an unprecedented volume of $17.9 billion in Ether options, evidencing strong interest in the market.
- Notable Bullish Sentiment: The put-call ratio of 0.31 before expiration and the preference for call options suggest a clear bullish sentiment among Ether traders.
- Short-Term Optimism: The concentration in call options for February 16 at $2,350 indicates widespread confidence in a further rise in the price of Ether in the coming weeks.
In a notable development for the cryptocurrency market, Ether options trading volume reached an all-time high in the month of January, according to data provided by The Block.
The price of Ether has seen an increase of 2% in the last 24 hours, standing at $2,249, at the time of writing.
Ether options trading volume on major cryptocurrency derivatives exchanges has hit a record $17.9 billion in January, with five days left in the month, according to The Block Data Dashboard.
According to GreeksLive options data, around 932,000 ETH +2.50% options expired on various centralized derivatives exchanges on Friday at 3:00 am ET.
A key indicator of market sentiment is the put-call ratio, which measures the ratio of puts to calls.
Ahead of Friday’s expiration, the rate for Ether options was 0.31, according to GreeksLive
This data coincides with information from The Block, which showed a put-call ratio of 0.3 for Ether options on Deribit before expiration.
A put-call ratio below 0.7 is generally interpreted as a sign of bullish sentiment in the market, while a ratio above 1 indicates bearish sentiment.
When the put-call ratio is less than one, it suggests that there are more call options compared to put options, indicating a prevailing bullish sentiment in the market.
According to Deribit data, the highest concentration of open interest by volume is in call options for the February 16 expiration with a strike price of $2,350.
This data can be interpreted as bullish, as many derivatives traders anticipate that the price of ETH will surpass this level in mid-February.
The Ether options market has experienced a historic January, with unprecedented trading volume and a clear bullish bias in market sentiment.
The concentration of open interest in call options for February reflects traders confidence in a further rise in the price of Ether in the coming weeks.
As always, it is important to note that the cryptocurrency market is highly dynamic and subject to rapid change, so caution is advised when interpreting options data.
