Ethereum Options Expiry: 500K Contracts Set to Expire Today, What’s Ahead? 🚨

With the Ethereum price showing strong volatility surrounding the approval of the spot Ethereum ETF, investors are keenly watching the moves with Ethereum options expiring later today. As of press time, Ethereum has recovered 3% from yesterday’s lows and currently trading around $3,250.

Ethereum Options Expiry:

As per the data from derivatives platform Deribit, a total of 499,811.00 Ethereum options are set to expire today with a notional value of $1.622 billion and a max pain point of $3,300. Here, the max pain point refers to the price that can inflict the most discomfort to the option holders.

On the other hand, the Deribit data shows that the put-call ratio is 0.46. This shows that there’s a strong dominance of the purchase (call) options over the sell (put) options. Thus, the current put-call ratio highlights that traders prefer purchasing options instead of selling them, highlighting broader market optimism.

The Ethereum price has bounced back to $3,250 amid the broader market recovery earlier today. A day before the ETH price crashed all the way to its crucial support of $3,150 in what seems to be the sell-the-news event after the spot Ethereum ETF approval. The spot Ether ETFs have registered two consecutive days of outflows with Grayscale’s ETHE bleeding heavily.

As said, the Ethereum price has seen strong selling pressure after the ETF trading went live earlier this week. Analysts say that Ethereum is showing exactly the same behavior as Bitcoin after the approval of the Bitcoin ETF in January.

The Bitcoin price remained low for nearly two weeks until it resumed its journey to a new all-time high. As per market analysts, Ethereum is likely to follow a similar move and start the uptrend by the end of August.

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