Multiple Options Traders Believe ETH Will Hit $5,000 by End of June

IconCryptoNewsTerminal Staff24 May, 2024

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Multiple Options Traders Believe ETH Will Hit $5,000 by End of June

Cryptocurrency-focused media outlet DLNews shared insights from the pseudonymous founder of decentralized crypto options exchange Stryke, 'Chad' (@TzTok-Chad), who revealed that several crypto options traders are wagering on Ethereum (ETH) reaching $5,000 by the expiration of options on June 28. The options contracts expiring on this date represent nearly $3.4 billion in open interest, with a substantial surge in call options purchased above $4,000 and a significant number above $5,000.