Ethereum
Long
Updated

ETH : What the Options Are Saying (Hint: Big Move Ahead)

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Right now, Ethereum’s key players are positioning themselves to make some money on the rise.

And guess what? The market's already whispering where it’s headed next — but only if you know how to listen. And the loudest voice right now? Options flow on Deribit.

Let me break it down for you…

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We caught some serious heat in the options pit lately. On Deribit, someone — or maybe a few someones — started stacking **Call options on ETH at 1,800 and 2,200 strike prices**, all under one portfolio. That’s not random. That’s a classic **Call Spread** setup, expiring June 27, 2025.

Translation? Someone’s betting hard on ETH heading north — straight toward **$2,200**.

But here's where it gets spicy. The **Max pain** for this contract sits right at **$2,000** — currently above spot price. Yeah, we’ve seen mixed stats on whether "price gravitates" to max pain like magic. But from experience? Right before expiry, price tends to *flirt* with that level.

So here's our read:

- There's **bullish sentiment** building.
- Eyes are locked on the **$2,200 zone** — likely within the next **30–50 days**.
- BTC’s playing the same game — big interest around **$100K–$110K strikes**, same expiry.

This isn’t noise. This is signal.

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📈 Market Activity Analysis for May 9

Everything is moving along pretty normally. The recent upward movement has triggered some aggressive positions aimed at further gains toward the 2700–3000 zone.

However, a more experienced options analyst would be able to read the meaning behind the largest new positions that appeared during yesterday’s rally. Their structure suggests that calls at 2400 are mostly being sold off, and the entire 2400–2700 range looks like a put spread strategy — indicating the market expects prices not to go above 2400 by the end of the 30th May

That said 🤝, it still doesn’t completely rule out the possibility of a short-term rise in price.

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