@BOMBERuss 7 May 2021 more from that month

Ethereum Options With ETH rallying from $2.9K up to $3.6K, skew of calls over puts expanded significantly. With spot now trading at $3.4K, the option market is pricing ETH at $4K with 44% probability, at $2.8K with 26% probability by end of June. Last week saw a 38% chance of $3K and 23% chance of $2.2K by the end of May. Despite a selloff, skew has remained positive throughout. May volatility is now trading at a 5-10% discount to June and September expiries. Implied volatility has markedly increased and now trades above 100% compared to realized volatility of less than 50%. Demand in far OTM calls has not abated while put OI is high in $3K and $2.6K strikes. We see highest gamma exposure at $3.4K for both Calls and Puts. With lower call skew and strong demand for puts market players are cautious in the short term. Continued activity in far OTM calls indicates an optimistic outlook in the long term. #CryptoTrading