• Latest
ethereum price hits $3,800, boosting bulls' control in friday's eth options expiry

Ethereum price hits $3,800, boosting bulls’ control in Friday’s ETH options expiry

October 15, 2021
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Ethereum

Ethereum price hits $3,800, boosting bulls’ control in Friday’s ETH options expiry

coinnewsdaily by coinnewsdaily
October 15, 2021
in Ethereum, Trading
0
ethereum price hits $3,800, boosting bulls' control in friday's eth options expiry
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

This month, Ether (ETH) entered a slightly bullish channel, and the price is currently marching toward the $3,800 mark. Despite recent volatility, Ether bulls are on track to earn $53 million on Friday’s weekly options expiration.

Investors also appear unconcerned by Ether’s recent underperformance against Bitcoin (BTC), as the altcoin has gained 265 percent to date. If Ether is able to maintain a price over $3,600 on Friday, 99 percent of the $180 million in put (sell) options will expire worthless.

Related articles

5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
Altcoin
Ether price at Bitstamp in USD. Source: TradingView

Despite the fact that Ethereum smart contract competitors continue to put pressure on the leading network, Ethereum’s average gas rates remain above $20 at the time of writing. Polkadot (DOT) is scheduled to begin its sidechain auctions on November 11, and this will support new token launches, decentralised finance (DeFi) applications, and Internet of Things (IoT) solutions, all of which will pass through trustless cross-network bridges. Polkadot (DOT) is a cryptocurrency that is based on the Ethereum blockchain.

In a recent announcement, Binance Smart Chain stated that it intends to offer a $1 billion fund to drive adoption throughout the entire cryptocurrency industry.
Investors typically view future incubation events backed by blockchain projects as positive for their respective native assets, and the price of bitcoin has risen by at least 30 percent since the announcement was made.

Bears were not expecting prices above $3,300

On the basis of recent somewhat negative newsflow, it’s easy to see why bears placed 88 percent of their bets below $3,300. Bulls may have dominated Friday’s $365 million expiration if they were a little less greedy.

According to the long-to-short ratio, the Oct. 15 expiration is precisely balanced between call (buy) and put (sell) options. Nonetheless, this bird’s eye perspective requires further detail, depending on the expiration price.

applications
Ether Oct. 15 futures aggregate open interest. Source: Bybt

According to the 1.03 call-to-put ratio, both sides held around $180 million worth of Ether options at the time of this writing.

However, this metric is misleading because the current rebound in Ether will almost certainly wipe out the majority of their negative bets. Example: If the price of Ether remains above $3,500 at 8:00 am UTC on Friday, only $6.6 million of the put (sell) options will be accessible to investors.

Bulls are comfortable at $3,600

Any expiry price greater than $3,500 is a bear trap, albeit a $32 million advantage should not be sufficient to inflict significant harm. Just to put things in context, the monthly options expiry for Ether now has over $800 million in open interest.

In light of current price levels, the following are the four most likely scenarios to play out, with the imbalance favouring either side representing the potential theoretical profit from the expiry of the contract.

The data shows how many contracts will be available on Oct. 15 for both bulls (call) and bears (put) instruments, as well as how many contracts will be available on Oct. 15.

  • Between $3,300 and $3,500: 7,450 calls vs. 3,550 puts. The net result favors bulls by $13 million;
  • Between $3,500 and $3,600: 11,150 calls vs. 1,900 puts. The net result favors bulls by $32 million;
  • Between $3,600 and $3,800: 15,400 calls vs. 600 puts. Bulls profit increases to $74 million.
  • Above $3,800: 27,450 calls vs. 0 puts. Bulls dominate by profiting $104 million.

This rough estimate takes call (buy) options into account when bullish strategies are utilised and put (sell) options into account when neutral-to-bearish trades are made. However, a trader may have sold a put option, acquiring positive exposure to Ether above a predetermined price. However, there is no clear way to quantify this effect.

Bears need sub-$3,500 to balance the scales

With Ethereum trading above $3,800, the bulls’ profit jumps to $104 million, a $30 million increase over the current expected gain of $74 million. On the other hand, the bear stands to make $61 million by forcing the price below $3,500, as the above calculation indicates.

With less than a day until the Oct. 15 expiration, the bears will have a difficult job halting the current bull run. Regardless of the competition the Ethereum network confronts and the high gas fees, investors’ demand for decentralised financing (DeFi) and network-based transactions (NFTs) appears to be sufficient to keep Ether on the rise.

The author’s thoughts and opinions are entirely his or her own and do not necessarily reflect those of CoinNewsDaily. Each investing and trading action entails risk; before making a decision, you should conduct your own research.

Tags: AltcoinBNBBoostingBullBullishDeFiETHEtherEthereumethereum networkEthereum pricegas feeshigh gas feesIncreaseInvestmentIoTNFTsoptionOptionsPolkadotpriceRallyTokentraderTrading
Share76Tweet47
Previous Post

XRP price eyes $1.50 next after bouncing 30% in just 10 days

Next Post

Celer Network Plans to Enhance Cross-Chain Solutions in its Upcoming Upgrade

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

5 projects enabling smart contract development on bitcoin
Alt Coin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
things you should know before investing in nfts
Alt Coin

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?
Bitcoin

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?
Alt Coin

What is the future of Ethereum (ETH)?

April 22, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum
Alt Coin

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
btc and eth will break all time highs in 2022 — celsius ceo
Bitcoin

BTC and ETH will break all-time highs in 2022 — Celsius CEO

April 21, 2022
Load More
Next Post
celer network plans to enhance cross chain solutions in its upcoming upgrade

Celer Network Plans to Enhance Cross-Chain Solutions in its Upcoming Upgrade

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$22,993.000.48%
  • ethereumEthereum(ETH)$1,642.831.30%
  • tetherTether(USDT)$1.000.22%
  • binancecoinBNB(BNB)$328.890.83%
  • rippleXRP(XRP)$0.3991870.27%
  • cardanoCardano(ADA)$0.3896840.47%
  • dogecoinDogecoin(DOGE)$0.0917000.15%
  • matic-networkPolygon(MATIC)$1.221.91%
  • okbOKB(OKB)$44.110.58%
  • solanaSolana(SOL)$23.06-1.35%
  • shiba-inuShiba Inu(SHIB)$0.0000141.36%
  • polkadotPolkadot(DOT)$6.610.58%
  • litecoinLitecoin(LTC)$97.572.21%
  • tronTRON(TRX)$0.0638040.18%
  • daiDai(DAI)$1.000.05%
  • cosmosCosmos Hub(ATOM)$14.33-1.33%
  • chainlinkChainlink(LINK)$6.970.65%
  • ethereum-classicEthereum Classic(ETC)$22.63-0.04%
  • leo-tokenLEO Token(LEO)$3.38-5.11%
  • moneroMonero(XMR)$167.030.31%
  • bitcoin-cashBitcoin Cash(BCH)$134.150.45%
  • stellarStellar(XLM)$0.0908780.78%
  • crypto-com-chainCronos(CRO)$0.0809900.01%
  • filecoinFilecoin(FIL)$5.22-0.21%
  • algorandAlgorand(ALGO)$0.2612122.74%
  • vechainVeChain(VET)$0.0243521.20%
  • internet-computerInternet Computer(ICP)$5.55-1.33%
  • aaveAave(AAVE)$85.781.07%
  • eosEOS(EOS)$1.080.41%
  • elrond-erd-2MultiversX(EGLD)$44.69-0.33%
  • theta-tokenTheta Network(THETA)$1.101.21%
  • tezosTezos(XTZ)$1.170.53%
  • huobi-tokenHuobi(HT)$5.581.71%
  • paxos-standardPax Dollar(USDP)$1.000.26%
  • havvenSynthetix Network(SNX)$2.7910.48%
  • bitcoin-cash-svBitcoin SV(BSV)$43.11-3.54%
  • pancakeswap-tokenPancakeSwap(CAKE)$4.502.09%
  • dashDash(DASH)$62.696.46%
  • iotaIOTA(MIOTA)$0.2447363.71%
  • neoNEO(NEO)$8.811.68%
  • makerMaker(MKR)$688.590.96%
  • zcashZcash(ZEC)$44.080.38%
  • zilliqaZilliqa(ZIL)$0.0295334.53%
  • basic-attention-tokenBasic Attention(BAT)$0.2794170.70%
  • nemNEM(XEM)$0.0405461.11%
  • compound-governance-tokenCompound(COMP)$52.511.59%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • kusamaKusama(KSM)$35.831.09%
  • bitcoin-goldBitcoin Gold(BTG)$17.25-0.65%
  • qtumQtum(QTUM)$2.842.01%
  • sushiSushi(SUSHI)$1.473.04%
  • wavesWaves(WAVES)$2.702.69%
  • golemGolem(GLM)$0.257400-0.22%
  • ftx-tokenFTX(FTT)$1.89-21.50%
  • yearn-financeyearn.finance(YFI)$7,606.670.87%
  • omisegoOMG Network(OMG)$1.695.45%
  • ontologyOntology(ONT)$0.2329132.27%
  • digibyteDigiByte(DGB)$0.0105691.20%
  • umaUMA(UMA)$2.091.29%
  • ethlendAave [OLD](LEND)$0.53-3.08%
  • UniswapUniswap(UNI)$2.4438.80%