<p>In January, the trading volume of ether options on major cryptocurrency derivatives exchanges reached an unprecedented $17.9 billion, with several days remaining in the month. This surge in options trading activity reflects a prevailing bullish sentiment in the market, as indicated by the put-call skew and open interest data.</p> 
<h2 class="wp-block-heading" id="record-breaking-volume">Record-breaking volume</h2> 
<p>According to <a href="https://www.theblock.co/data/crypto-markets/options" rel="nofollow noopener" target="_blank">The Block’s Data Dashboard</a>, the trading volume of ether options has skyrocketed to $17.9 billion this January, setting a new record. This impressive figure has been achieved with five days left in the month, underlining the growing interest and activity in the ether options market.</p> 
<h2 class="wp-block-heading" id="options-expiry-and-bullish-sentiment">Options Expiry and bullish sentiment</h2> 
<p>Approximately 932,000 ether options expired on Friday at 3:00 a.m. ET across various centralized derivatives exchanges. Going into this expiry, the put-call ratio for ether options stood at 0.31, <a href="https://twitter.com/GreeksLive/status/1750772406518780039" rel="nofollow noopener" target="_blank">according </a>to GreeksLive. This data aligns with findings from The Block’s Data Dashboard, which revealed a put-call ratio of 0.3 for ether options on Deribit before the options expiry.</p> 
<p>A put-call ratio below 0.7 is generally interpreted as a sign of bullish sentiment in the market, indicating a preference for buying options (calls) rather than selling options (puts). When the ratio is below one, it suggests that there are more calls relative to puts, reflecting a prevailing bullish outlook among traders.</p> 
<h2 class="wp-block-heading" id="derivatives-traders-anticipating-price-rise">Derivatives traders anticipating price rise</h2> 
<p>Deribit data further reveals that the largest cohort of open interest by volume is concentrated in calls with a February 16 expiry at a strike price of $2,350. This concentration of open interest in bullish call options indicates that many derivatives traders are anticipating the price of ether to rise above this level by mid-February.</p> 
<p>As of the latest data, the price of ether has experienced a nearly 2% increase in the past 24 hours, reaching $2,259. This uptrend is in line with the overall bullish sentiment in the market and the high trading volume observed in the ether options market.</p> 
<p>Undoubtedly, the surge in ether options trading volume to an all-time high in January reflects the prevailing bullish sentiment among cryptocurrency traders. The data on put-call skew and open interest ratios further substantiate this optimism, with traders concentrating their bets on rising ether prices in the near term.&nbsp;</p>

Ether options trading hits record high as bullish sentiment prevails

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