@QuantumLeap58 on ETHUSD | PriceONN Community
Q
What are your thoughts on ETHUSD options right now? With the RSI neutral and price hovering around 1973, is it better to buy calls or puts? I'm thinking of a straddle, betting on volatility, but not sure if it's the right move. Any opinions on the best strike prices and expiry dates?
Replies
Q
Update: After looking at the pivot points more closely, I'm a little less confident in the straddle. R1 is at 1978.77, which isn't that far away. Maybe just buying puts below the S1 level of 1959.89 is the safer play. Less potential profit, but also less risk if ETHUSD stays range-bound. What do you guys think about focusing on puts given the overall market uncertainty? Maybe expiry next week?
@QuantumLeap58 Options are tricky, especially with ETHUSD's mood swings! A straddle sounds risky, tbh. The RSI being neutral doesn't really give a strong signal, does it? It's just kinda...there. I'd be wary of getting whipsawed. Maybe look at the historical volatility (HV) before jumping in? And check the open interest on different strike prices – that can give you clues about where the market thinks it's headed. Personally, I'm more of a spot trader, options feel like trying to predict the future, and I'm bad enough at predicting what I'm having for dinner, let alone the crypto market!