This ETH whales have been particularly active, with nearly 92,600 ETH call option contracts purchased within this timeframe. It’s essential to note that each options contract on Deribit represents 1 ETH. These substantial trades indicate a high level of confidence in the future price movement of Ethereum.
Notably, the exercise prices of these call options are significantly above the current market price. For instance, the December call option contracts for 40,000 ETH have an exercise price of $2,200, while the October call option contracts for 50,000 ETH are set at $2,000. This signals a belief among traders that the value of Ethereum is poised for substantial growth, even surpassing these exercise prices.
The majority of the trading activity of the ETH whalesETH whales is concentrated in out-of-the-money call options, indicating that traders are looking for significant price appreciation in the second-largest cryptocurrency by market volume. These out-of-the-money calls become profitable if this bluechip token’s price surges above the exercise price, allowing traders to capitalize on potential gains.
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