London and US Colour
QCP Capital2024/06/20 10:04
By:Sue Ann Sim
- ETH spot prices sharply rebounded from a morning low of 3,400, with implied volatility notably rising to 65% in the front end.
- This strong bullish sentiment is supported by two developments:
- The SEC is closing its investigation into Ethereum 2.0, ruling out any charges alleging that sales of ETH are securities transactions.
- Prospective issuers of Ethereum ETFs are reportedly responding to SEC comments and aim to hand them back this week
- The options market has also reflected this optimism, with the desk observing heavy buying activity of top-side calls across various tenors
- Despite uncertainty around the reception of the ETH ETF, capturing 10-20% of Bitcoin ETF flows could propel ETH above 4,000, nearing its peak of 4,800.
Trade Idea
Given the market’s reactivity to the ETH ETF progress, digital options are appealing as a potential breakout strategy to capture profits on a move higher in ETH.
ETH 26-Jul 4,500 Digital
6.3x Payout if ETH spot price is above 4.5k at expiry
ETH 30-Aug 5,000 Digital
6.7x Payout if ETH spot price is above 5k at expiry
(Spot ref: 3,550)
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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