On the 28th, Cointelegraph, citing Bybt data, reported that 168,558 ether for open calls and 127,073 for open puts to be processed at the expiration of Ethereum options.
A call option is the right to buy at a set price (strike price), and a put option is the right to sell. The exercise of each option is determined by what happens to the Ethereum price on the day of expiration.
Cointelegraph set the Ethereum price at $3900, $4,000, and $4200 on the day of expiration and presented a scenario for each section.
First, $3900-4000 : 35,100 calls, 9800 puts. About $100 million in call options dominance
Second, $4000-4200 : 54,900 calls, 3600 puts. About $250 million in call options dominance
Third, over $4200 : 66,300 calls, 600 puts. About $275 million in call options dominance
In view of the distribution of open interest and the possibility of profit, the bulls have the power to lead the 29-day maturity.
That there is a strong need to keep Ethereum above $4200.
Conversely, for the bear forces, the price should drop below $4,000. Failure to do so can result in losses of more than $200 million.
In view of the market trend, it is analyzed that it is difficult to make a meaningful move unless the bear force exerts strong downward pressure on the price.
As of 1:13 pm on the 29th, Seoul time, Ethereum is trading at $4375 based on CoinMarketCap.
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