All the activity carried out in the options market usually has a direct impact on the price of the underlying asset. Major events like option expiries are usually awaited, as they end up giving the price a definitive direction.
Ethereum, at this point, is standing at an indecisive juncture. Its price has been consolidating in and around the $4.2k-$4.3k bracket for more than seven days now. Notably, the price upticks in the aforementioned period have largely been under 3%.
So, the question is- will the Ethereum market prolong its monotonous state over in the last week of November, or the market will witness some lively action over the next few days?
The upcoming expiries
At the time of writing, from the derivatives point of view, over 307 ETH are set to expire in two batches over the next few hours. The first batch, expiring on 25 November, is a minor one involving merely 14k ETH.
However, the expiry of 26 November is the biggest that the Ethereum market would face before the 31st December one. Well, over 293.2k ETH are set to perish on 25 November.
Now, as can be seen from Skew’s chart attached below, the number of calls are currently dominating the number of puts by a large margin. This suggests that a majority of traders are confident about Ethereum’s future prospects.
A look into the breakdown below, further points…