Activity in the PowerTrade options for alternative cryptocurrencies (ALTCOINS) The rhythm this week, since the greater market volatility led merchants to look for derivatives for coverage and speculative opportunities.
The negotiation volume in the XRP options has shot more than $ 5 million this week, with most of the activity concentrated in short appointment expirations, the data shared by PowerTrade shows. The flows have been balanced among the sales options on strikes ranging from $ 1.80 to $ 1.98 and calls to strikes from $ 1.80 to $ 1.93.
“This activity suggests that merchants are positioning for a significant short -term pricing movement, either of regulatory developments or a breakup pattern, with an almost uniform balance between bullish and bassist structures,” said Bernd Sischka, head of institutional sales in Persterade, to Coindesk.
The two -way flow is consistent with the action of the volatile market, characterized by XRP sliding to a minimum of five months of $ 1.61 earlier this week, only to recover to $ 2, according to Coindesk data. A purchase option gives the buyer the right, but not the obligation to buy the underlying asset at a predetermined price on a specific date or before. A call buyer is implicitly optimistic in the market, while a Put buyer is bassist, who seeks to benefit or protect against price symphines.
The market saw the coverage activity in Sol Options, with merchants chasing strikes ranging from $ 104 to $ 121. Token Sol Solana Programmable Solana fell briefly to $ 95 on Monday when the US-China trade tussle triggered the aversion to the broad base risk in the financial markets. Since then, the cryptocurrency has bounced at $ 115.
However, despite the macro nerves, the merchants pursued the rise in Dogecoin, the main joke cryptocurrency of the world by market value, which fell to 13 cents earlier this week and changed their hands for the last time to 15.7 cents. The cryptocurrency has fallen more than 65% since it reached a peak of 48 cents in December.
The most popular works have been called 14.5, 15.5, 17.5 and 18 cents, all expired on April 13, a speculative frenzy sign.
“The flow indicates a pure impulse trade: Premium low and decreased bets and low -targeted waves, probably linked to social networks driven by events,” Sischka said. “[Broadly speaking]You expire short and directional bets are promoting the Altcoin options in the center of attention. “
Even so, the Altcoin options market is significantly smaller than the bitcoin and ether options, directed by Delibit, where contracts worth millions of dollars are negotiated every day.
