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Ethereum bulls maintain control ahead of Friday’s $730M ETH options expiry

Published 05/13/2021, 04:40 PM
Updated 05/14/2021, 06:00 AM
Ethereum bulls maintain control ahead of Friday’s $730M ETH options expiry

Ether (ETH) initiated a rally on April 25, which resulted in a 90% gain that pushed the price to $4,200. The nonstop action has been fueled by an incredible increase in decentralized finance (DeFi) applications, where the total value locked has surpassed $74 billion, a 51% increase in 18 days.

This positive momentum has been decimating the neutral-to-bearish put (sell) options, giving bulls even more incentives to continue the rally. On May 14, a total of $730 million Ether options are set to expire, and bulls have complete control as the call (buy) options are in the majority.

Daily DEX volume on Ethereum network, U.S. dollars. Source: DeBank
ETH May 14 options open interest by strike, number of contracts. Source: Bybt

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