Keep dreaming! Options data suggest $560 Ethereum price won't happen

Reviewing options markets data can provide additional relevant insights on market sentiment.

These trades include 20 BTC CME December call options with a $70,000 strike and the 56 BTC worth of $100,000 December strikes at LedgerX. These anecdotal trades might not reflect the broader market conditions, but oddly enough, the highest Ether options contract for Dec 2020 stands at $1,120.

This trade is undoubtedly bullish considering there are only 42 days left until expiry, but not even close to the BTC options pending 330% upside or higher.

It is worth noting that Deribit also holds Ether call options for March 2021 with strikes trading up to $1,600.

As the data above shows, out of the $613 million in Ether options open interest, a mere 28% stands at $460 and higher.

It's also important to remember that options until March 2021 are listed on most exchanges.

Buying options for prices way above the market level is relatively cheap.

When comparing this data to the Bitcoin options markets, there's a striking difference.

BTC options are remarkably more bullish, and there are $50K call options that were placed long ago for June and December 2021.

This time around, 40% out of the $3.75 billion BTC options open interest stands at $16,000 and above.