Ether Options Expiry Could Influence Price Movement Amid Market Dynamics

According to Cointelegraph, the upcoming expiration of $2.4 billion in Ether (ETH) options on May 30 could play a significant role in determining whether ETH can surpass the $2,700 mark for the first time in over three months. Despite recent gains, Ether has experienced a 21% decline in 2025, contrasting with a 5% increase in the broader cryptocurrency market. Ether bulls are keen to maintain ETH above $2,600 ahead of the monthly expiry, although weak network activity on Ethereum suggests that the potential for upward movement may be constrained. Analysts attribute Ether's underperformance to increasing competition among blockchains focused on decentralized applications. Nevertheless, ETH retains a strategic advantage as the only altcoin with a spot exchange-traded fund (ETF) offering in the United States. These ETFs have attracted $287 million in net inflows between May 19 and May 27, indicating heightened interest from institutional investors. Despite growing demand for Ether-based investment products, deposits and on-chain activity on the Ethereum network have decreased. This trend is concerning as competitors like Solana, BNB Chain, and Tron continue to expand their market share. Ethereum's absence from the top ten protocols in terms of fees has led to a supply imbalance, contributing to inflationary pressure on ETH. The $1.3 billion in call (buy) options dominate the May 30 expiry, but this does not necessarily mean that traders will reinvest the proceeds in new bullish positions. Many option strategies involve multiple maturities and are structured in ways that do not benefit from ETH rising above specific thresholds. Additionally, traders may hedge their exposure through futures markets. The $1.1 billion in put (sell) options were caught off guard, as 97% were set at $2,600 or lower. These contracts will expire worthless if ETH holds above that level at 8:00 am UTC on May 30. While this imbalance is unusual, a similar outcome could affect the overly optimistic call options with strike prices at $2,800 and above if ETH remains near current levels. Bulls are strongly incentivized to push ETH past $2,700, yet broader market conditions may override these efforts. Given the strong correlation between cryptocurrencies and the S&P 500, macroeconomic indicators and corporate earnings are likely to remain the primary forces shaping investor risk appetite—and ultimately, ETH’s price at the time of the monthly options expiry. This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.