Ether put options concentrate at $2,200. Is it a hedge or a bearish indicator? | Headlines | News | CoinMarketCap
02/21/2024 04:16
Ether options open interest ahead of Friday's end-of-month expiry shows a concentration of puts at a strike price of $2,200. While one analyst said …
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Published on February 20, 2024 20:46 GMT+00:00edited on February 20, 2024 20:49 GMT+00:00
Ether options open interest ahead of Friday's end-of-month expiry shows a concentration of puts at a strike price of $2,200. While one analyst said this could be a hedge of a bullish position, it could also indicate a bearish short-term outlook in the second largest digital asset by market capitalization.
This comes as ether recently changed hands above $3,000 for the first time since April 2022 as speculators take positions on whether the U.S. Securities and Exchange Commission will approve of a spot ether ETF in the coming months.
Options are derivative contracts that give a trader the right but not the obligation to buy or sell the underlying asset at a predetermined price on or before a specific date. A call option gives the right to buy, and a put offers the right …