First mover America: traders are betting big on Ether for the second half of 2023

Ether, the token of the Ethereum blockchain, jumped 61% in the first six months of the year. traders are now Condition Rally may increase in second half, On Friday, an investor bought about 63,250 “bull call spreads” involving Ether that were due to expire on December 29, according to data source Emberdata. The trade consisted of selling a call option at a strike price of $2,500 in order to partially finance the purchase of a call option at a strike of $1,900. The initial cost of this strategy was $10 million because the trading unit spent more to buy the $1,900 call than it received from selling the $2,500 call. The call buyer gets protection from the seller against a price rise. In return, the seller receives an upfront premium from the buyer.