Key Points
- Block calls rose significantly today, predicting an upcoming Ethereum rally.
- 67,000 ETH block call traded options have been recorded.
According to the latest reports coming from Greeks.live, block calls rose significantly today.
According to their recent announcement shared via X, 67,000 Ethereum block call traded options account for nearly 30% of the day’s total turnover.
They also noted that there have been 3,400 Bitcoin block call options which accounted for 20% of the day’s total turnover.
From the distribution of transactions, ETH largest traded contract for the September 4,000 call, BTC largest traded contract for the December 90,000 call which are forward OTM call options.
They also noted that not too long ago, a giant whale transferred $100 million worth of Ethereum into Deribit. According to their notes, there are multiple signals that predict a big ETH rally is on its way.
Greeks.live also noted Wednesday’s options open interest by expiration as of today, June 19 for both Ethereum and Bitcoin.
Bitcoin
- Calls (by number of contracts): 166k contracts
- Puts (by number of contracts): 76k contracts
Ethereum
- Calls (by number of contracts): 1.42M contracts
- Puts (by number of contracts): 679K contracts
Ethereum above $3,500 amidst optimistic predictions
At the moment of writing this article, ETH is trading above $3,500.
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The coin is up by over 3% today.
ETH has been surrounded by optimistic price predictions, most likely fueled by the ETH ETFs’ upcoming launch.
Earlier today, we reported that according to the latest notes, the crypto market could see ETH ETFs going live for trading soon.
Bloomberg’s analyst James Seyffart noted in a recent post on his X account that there is no way to know when the listings will eventually launch based on the recent filing by Bitwise.
According to him, these might not require additional updates, or, they could require some tweaks. But what is certain is the fact that they need the final nod from the SEC.
He said that launching time will be mostly up to the regulators, and together with Eric Balchunas (another Bloomberg analyst) they believe that the crypto products should launch before July 4.
