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Analyst: Data Shows Options Traders Remain Optimistic, Majority Believe Trend is Not Over Yet
Summary: According to on-chain data analyst Murphy, there is still optimism among options traders. Based on the heat map data of option premiums on August 19 in the $123,708-$129,685 exercise price range, there was a large volume of bullish options with a total premium size of approximately $43.32 million. Meanwhile, there was no net buying below ...
According to on-chain data analyst Murphy, there is still optimism among options traders. Based on the heat map data of option premiums on August 19 in the $123,708-$129,685 exercise price range, there was a large volume of bullish options with a total premium size of approximately $43.32 million. Meanwhile, there was no net buying below the spot price, indicating traders are more willing to bet on BTC rising to this range, with very little demand for bearish options.
On the other hand, there were relatively large volumes of options being sold in the $97,709-$102,430 exercise price range, with a total premium size of approximately $13.14 million. This suggests that option sellers believe it is unlikely for BTC to drop to this level, opting to sell volatility instead.
Therefore, sentiment among options market traders remains optimistic, with the majority believing that the trend for BTC is not over yet and betting that it can return to $124,000. Option sellers, on the other hand, believe that BTC is unlikely to drop below $102,000 in its biggest fluctuations.
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Link: Analyst: Data Shows Options Traders Remain Optimistic, Majority Believe Trend is Not Over Yet [Copy]
