Interest in Ether Options Rises to Record as Traders Bet on 'Merge'

Interest in Ether Options Rises to Record as Traders Bet on 'Merge'


Open interest, or the number of options contracts traded but not squared off with an offsetting position stood at a new lifetime peak of near 4 million, according to data from major exchanges, including Deribit, tracked by Swiss-based derivatives analytics firm Laevitas. The previous peak of around 3.5 million was registered in the second quarter.

“The desk has traded an incredible amount of ETH calls this week, over 250,000 ETH notional,” the Singapore-based options trading giant QCP Capital noted in a Telegram chat.

“A few hedge fund names have been large buyers of the ETH calls and the overwhelming demand has brought September volumes up to 100%,” the trading firm said, adding, “We expect this demand to continue as we approach the merge in September.”

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