[Alt Options Trends] Ethereum $2,600 Call Options Concentrate · Solana Call Options Dominate… XRP Put Options Share Expands

In Ethereum and Solana, bullish call options remain the dominant expectation for upward movement, while in the XRP options market, the demand to hedge against downside risk has relatively increased.

As of the 15th, according to data from the largest cryptocurrency options exchange Deribit, the open interest (remaining contracts) for options expiring that day is: 274,091 Ethereum options (approximately $627.26 million), 18,652 Solana options (about $17.2 million), and 1,736 XRP options (around $2.59 million).

The put/call ratio of open interest shows: Ethereum at 0.39, Solana at 1.02, XRP at 1.14.

Ethereum’s put/call ratio is 0.39, indicating a clear advantage for call options. In the options market, bets on upward movement dominate, reflecting a strong bullish sentiment.

Solana’s put/call ratio is 1.02, with demand for put and call options roughly equal. Market analysis suggests this reflects a balanced outlook with a wait-and-see attitude toward short-term direction.

In contrast, XRP’s put/call ratio is 1.14, with a relatively higher proportion of put options, indicating ongoing vigilance against downside risks. The market interprets this as maintaining defensive positions.

The “max pain price” at expiration, where option buyers suffer the greatest losses, are: $2,300 for Ethereum, $86 for Solana, and $1.46 for XRP.

Options with the highest open interest:

Ethereum: $2,350 call options | $2,600 call options | $2,400 call options

Ethereum’s call options are concentrated in the $2,350 to $2,600 range, showing a buy position layout centered around the upper price region. Notably, the $2,600 call options are also among the top, reflecting market expectations of short- to medium-term upside.

Solana: $86 put options | $100 call options | $94 call options

For Solana, the top open interest is in the $94 to $100 call options, with $86 put options also present, indicating a coexistence of bullish expectations and defensive positioning below.

XRP: $1.60 call options | $1.46 put options | $1.48 call options

XRP’s call options are concentrated between $1.48 and $1.60, reflecting expectations of upward movement; meanwhile, the $1.46 put options are also among the top, showing a demand for short-term volatility hedging.

Top traded ETH options contracts in the past 24 hours / Deribit

Recent 24-hour total trading volume shows: Ethereum 124,368 contracts, Solana 67,440 contracts, XRP 2,619,000 contracts.

Put/call ratios are: Ethereum 1.17, Solana 0.42, XRP 0.76.

Ethereum’s put/call ratio is 1.17, with put options trading exceeding call options, indicating a dominant short-term risk aversion. Solana’s ratio is 0.42, with a clear advantage for call options, suggesting increased bullish sentiment. XRP’s ratio is 0.76, with active call options trading and continued demand for upward bets. Especially amid high trading volume, this reflects an active positioning stance within short-term volatile ranges.

Most traded options contracts:

Ethereum: $2,100 put options (June 26) | $2,350 call options (May 15) | $2,300 call options (May 15) | $2,300 put options (June 26) | $2,100 put options (May 29)

Solana: $94 call options (May 15) | $93 call options (May 16) | $94 call options (May 22) | $93 call options (May 15) | $94 call options (May 16)

XRP: $1.54 call options (May 22) | $1.52 call options (May 22) | $1.60 call options (June 26) | $1.50 put options (May 29) | $1.48 put options (May 16)

According to TokenPost Market data, as of 10:40 a.m. on the 15th, Ethereum (ETH) rose 1.03% from the previous day to $2,289. Solana (SOL) fell 1.24% to $92.34. XRP declined 4.49% to $1.494.

[Editor’s note] Options are derivatives that allow investors to leverage bets on the price movements of the underlying assets or hedge existing positions. They include “call options” that give investors the right to buy the underlying asset at a predetermined price in the future (bullish bets), and “put options” that give the right to sell (bearish expectations). Open interest refers to the total number of outstanding options contracts currently in the market.