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