Ether options monthly trading volume hits all-time high in January

Ether options trading volume across major cryptocurrency derivatives exchanges has reached an all-time high this January of $17.9 billion, with five days still left in the month, according to The Block’s Data Dashboard.

According to options data from GreeksLive, approximately 932,000 ETH +3.63% options expired across multiple centralized derivatives exchanges on Friday at 3:00 a.m. ET.

Bullish put-call skew for ether options

Ether options open interest had a put-call ratio of 0.31 going into Friday’s expiry, according to GreeksLive. The data concurred with that from The Block, which showed that the put-call ration for ether options on Deribit had fallen to 0.3 before the options expiry. A put-call ratio below 0.7 is typically viewed as signaling bullish sentiment in the market, while a put-call ratio above 1 is typically viewed as indicating bearish sentiment.

When the put-call ratio is below one, it suggests that there are more calls (options to buy) relative to puts (options to sell), indicating a prevailing bullish sentiment in the market.

According to Deribit data, the largest cohort of open interest by volume is now calls for the Feb. 16 expiry at a strike price of $2,350. This could be interpreted as bullish, with many derivatives traders anticipating the price of ether to rise above this level by mid-February.

The price of ether increased by almost 2% in the past 24 hours to trade at $2,249 at 10:00 a.m. ET, according to The Block’s Prices Page.

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