Altcoin options: Ether and XRP bullish, Solana positions lean bearish

Ether had the largest front-expiry open interest at 30,818 contracts, while XRP also showed a call-option bias. Solana was the only asset with put-dominant positioning.

Ether options showed a bullish tilt, with calls leading both open interest and trading volume. Solana’s existing positions leaned bearish, while XRP’s broader options activity favored calls.

As of October 16 at 11:42 a.m., front-expiry open interest totaled 30,818 Ether contracts worth about $78.76 million, 33,720 Solana contracts worth $3.62 million and 1,569,000 XRP contracts worth $2.12 million. Ether and Solana expire October 17, while XRP expires October 23.

The open-interest put/call ratio stood at 0.94 for Ether, 2.36 for Solana and 0.76 for XRP.

Ratios below 1 for Ether and XRP indicated call-dominant positioning. Solana’s ratio of 2.36 showed a clear put bias, making it the only bearish setup among the three assets.

The max pain price, where option buyers collectively face the greatest losses at expiry, was $2,420 for Ether, $106 for Solana and $1.30 for XRP.

Ether’s $2,100 put had the largest front-expiry open interest, followed by the $2,300 put and $2,520 call. The concentration of puts below the $2,420 max pain level pointed to downside hedging alongside upside exposure.

Solana’s $102 put recorded the most open interest, followed by the $103 put and $100 put. The put-heavy concentration around and below the $106 max pain price reflected protection against further downside.

XRP’s $1.30 put had the largest open interest, followed by the $1.30 call and $1.20 put. Positions clustered around the $1.30 max pain level while retaining downside protection.

Over the past 24 hours, total options volume reached 175,865 contracts for Ether, 121,110 for Solana and 2,582,000 for XRP.

The 24-hour volume put/call ratio was 0.60 for Ether, 1.12 for Solana and 0.37 for XRP.

Ether’s ratio showed calls leading trading activity. Solana’s ratio remained above 1, extending the bearish tilt seen in open interest, while XRP displayed the strongest call dominance of the three.

Most-traded options Ether: $2,600 call (October 30)｜$3,000 call (December 25)｜$2,050 put (October 30)｜$2,300 put (October 19)｜$2,300 put (October 17) Solana: $102 put (October 17)｜$103 put (October 17)｜$105 put (October 17)｜$101 put (October 17)｜$96 put (October 30) XRP: $1.85 call (December 25)｜$1.30 put (October 23)｜$1.30 call (October 23)｜$1.70 call (November 27)｜$1.85 call (October 30)

Ether traded at $2,479, up 4.69% over 24 hours. Solana rose 4.07% to $107, while XRP gained 2.84% to $1.35.

Editor’s note Options are derivatives used to take leveraged positions on an underlying asset or hedge existing exposure. Calls grant the right to buy at a predetermined price and are generally associated with bullish positioning, while puts grant the right to sell and are generally associated with bearish positioning. Open interest is the total number of outstanding options contracts.

This article is based on market data and chart analysis and does not constitute investment advice.