$2.3 billion worth of options contracts tied to Ether (ETH) are set to expire on Friday on cryptocurrency exchange Deribit. The market dynamic of increased institutional interest in “overwriting” or selling Ether call options has led to a negative spread between Deribit’s 30-day implied volatility index for Ether and Bitcoin, indicating relative stability in Ether. The market expects potential significant shifts around the options expiry on Friday as short positions may be closed and moved to July or September expiry, which can result in significant shifts in how implied volatility is priced in the Bitcoin and Ether markets.

AI Sentiment: Neutral