Ethereum Call Options Up Staggering 875 Percent on This Exchange

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Mon, 11/23/2020 - 14:50
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Alex Dovbnya
Ethereum options are heating up amid the latest rally
Ethereum Call Options Up Staggering 875 Percent on This Exchange
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The Ethereum options market is getting wild.

On Nov. 23, the daily trading volume for Ethereum call options on the Delta exchange is up a whopping 875 percent.

Deribit
Image by @Delta_Exchange

First Tether-settled options contracts

The Delta Exchange is one of the leading cryptocurrency derivatives platforms that was launched back in August 2018.

This September, it became the first exchange to launch options that are settled in the popular Tether (USDT) stablecoin.

It offers options for Bitcoin, Ethereum, Chainlink and Binance Coin, with maturities ranging from one day to an entire month.

Cryptocurrency options simulate traditional platforms that give traders the opportunity to purchase call options and put options. While the former allow exposure to future appreciation, the latter are used to bet on a market downturn and earn a premium. It is important to note that traders are not obliged to exercise an option.

Related Ethereum (ETH) Options Volume Hits a New Record High, as Retail Activity Explodes
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Ethereum (ETH) Options Volume Hits a New Record High, as Retail Activity Explodes

OI on Ethereum options hits a new high

Ethereum, the largest alternative cryptocurrency by market capitalization, reached a 2020 high of $598, leaving Bitcoin's subdued rally in the dust.

According to data provided by Bybt, open interest in Ethereum options recently reached its highest level to date.

OI
Image by bybt.com/options 

Dutch derivatives exchange Deribit rules the roost in this market with 1.41 million ETH worth of contracts, while troubled OKEx comes in second place with 167K.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.