The market for options related to Ethereum (ETH) saw a significant increase in the trading of call options, with over 140,000 contracts traded on Oct. 30.
These numbers indicate bullish sentiment among prominent investors.
Bullish sentiment among investors
According to the Oct. 30 post from Greeks Live, the solution provider for crypto options traders, the majority of these transactions involved active buying of monthly options in the 1650/1700/1800 range set to expire on Nov. 24.
The ETH options market saw huge volumes of call block today, with over 140,000 traded with a notional value of over $250 million.
Most was active buying of monthly options at the 1650/1700/1800-24Nov.
Such large-scale active buying of ITM options is certain to be a stop-loss… pic.twitter.com/RAkQlBVtQ0
— Greeks.live (@GreeksLive) October 30, 2023
The post goes on to state that put sells have increased 6.28 percent and put buys have increased 6.11 percent, at the same time that call sells have increased 11.14 percent and call buys 12.85 percent.