Crypto Whale Takes $150M Bullish Bet on Ether, Trading Data Tracker Shows


18 Sep 2023 8:33 AM

The large flow was concentrated in the so-called out-of-the-money calls, indicating a bullish outlook on the second-largest cryptocurrency by market volume, according to Greeks.Live...

  • A whale has traded large amounts of call options in the ether (ETH) market.
  • The whale bought nearly 92,600 ETH call option contracts worth $150 million on Deribit.
  • The purchases were naked buys, indicating long-term bullish expectations.
  • The call options were concentrated in out-of-the-money (OTM) strikes above the current market price.
  • Block trades of ETH call options at $2,200 and $2,000 were observed.
  • Ether recently hit a six-month low but has since bounced back.
  • The cryptocurrency is trading at a 27% discount to its fair value based on a Metcalf law model.

The article highlights a whale's bullish activity in the ETH market, indicating positive sentiment towards the cryptocurrency.

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You May Ask

What is the value of the ETH call option contracts purchased by the whale?What is the significance of naked buys in options trading?Where were the call options concentrated in terms of strike levels?What is the current market price of ether (ETH)?How much of a discount is ether trading at compared to its fair value?

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