Open Positions in Ether ‘Calls’ Hits 1 Million Mark as Traders Pile Onto Higher Strike Options

Open Positions in Ether ‘Calls’ Hits 1 Million Mark as Traders Pile Onto Higher Strike Options
Ether’s options market flows appear more bullish than ever, with the cryptocurrency eyeing the psychological level of $5,000.Data tracked by Swiss-based analytics firm Laevitas shows there are currently 1.02 million call option contracts ($4.8 billion) open on the Deribit exchange – perhaps a record figure and twice more than the put option tally of 426,950 ($2 billion).The big gap reflects top side bias. “[That’s] pretty bullish positioning,” Amber Group said in a Telegram chat. “skew is favouring topside as well.” Traders buy call options to bet on price increases and seek downside protection via puts when anticipating a correction.Both short-term…