ETH Options Show Bullish Bias as SOL Defense and XRP Rebound Expectations Mix

Ethereum options market has shown call option dominance in both open interest and trading volume, reflecting strong short-term upward expectations. Solana exhibited higher put exposure in open interest but call-biased trading activity, with XRP also showing call-led transactions indicating rebound hopes. According to Deribit as of 11:40 a.m. on September 18, the daily expiry options open interest stood at Ethereum 147,471 contracts (approximately $370.22 million), Solana 7,927 contracts ($8.12 million), and XRP 3,681 contracts ($4.81 million). The put/call ratio for open interest was Ethereum 0.49, Solana 0.82, and XRP 0.66, with Ethereum and XRP below 0.7 indicating bullish sentiment, while Solana's 0.82 suggested a more defensive stance among the three coins.

The maximum pain price - where option buyers would suffer most loss at expiry - was $2,500 for Ethereum, $101 for Solana, and $1.32 for XRP. Ethereum saw the largest open interest in its $2,800 call options, with significant activity also in $2,700 calls and $2,250 puts, indicating a focus on upside bets above the maximum pain price while showing some defensive support at lower levels. Solana's highest open interest was in its $97 put option, followed by $106 call and $98 put options, suggesting strong downside defense around the $101 maximum pain price but also upward expectations at $106. XRP showed its largest open interest in the $1.20 put option, with subsequent activity in $1.70 and $1.85 call options, indicating defensive positioning below $1.32 alongside rebound bets above that level.

Over the past 24 hours, total options trading volume was Ethereum 136,820 contracts, Solana 14,670 contracts, and XRP 3,758 contracts. The put/call ratio for 24-hour trading was Ethereum 0.51, Solana 0.36, and XRP 0.44 - all below 1 indicating call dominance with Solana showing the strongest call bias at 0.36.

As of 11:40 a.m. on September 18, Ethereum (ETH) was trading at $2,463, up 1.40% from the previous day; Solana (SOL) at $103, up 3.09%; and XRP at $1.31, up 0.24%, according to TokenPost Market.