May expectations regarding Spot Ethereum ETF approval are creating a bullish impact on Ethereum options markets.
Bitfinex Head of Derivatives Jag Kooner touched upon the impact of spot Ethereum ETF expectations on the markets. Speaking to The Block, the experienced name said that Ethereum options markets that it has started to act in accordance with an approval that may come in May. noted.
Kooner continued his statement: March, April And May long term for months A noticeable increase in calls options He emphasized that it was. According to the data, option investors believe that the Ethereum price will change according to the current situation in May. He started to think he’d be higher.
Bloomberg senior ETF analysts say U.S. Securities and Exchange Commission (SEC) will review spot Ethereum ETF applications May 23 He stated that he could approve it on the date.
Kooner stated that although there is an upward expectation for May, investors are cautious about the news of a possible postponement. The majority of bullish options for Ethereum around $2,900 He pointed out that it was clustered:
Traders appear to be adjusting Ethereum options contracts with the May 23 date in mind. On the other hand, whether Ethereum is categorized as a security or commodity is an important factor affecting these predictions and the reaction of the options market. For late April and longer expiration dates, the maximum strike price is higher around $2,400 and we have a heavy call side bias there as well, with the highest open interest relative to the strike price around $2,900.