eth options flow. july 6 snapshot. spot $1,815.
put/call OI ratio 0.55. put/call volume ratio 0.60. both well under 0.7. calls dominant across the board. not a subtle lean. open interest stacked 949k calls to 521k puts. flow confirms it. $1.4M call premium vs $0.8M put premium. market paying up for upside exposure.
nearest expiry 7JUL26. max-pain $1,750. spot sitting $65 above it. ATM IV 57%. elevated but not panicked. the max-pain magnet is pulling down while call buying pushes up. tension.
falsifiable line: dealer gamma flips negative if spot breaks below $1,750 before expiry. above that level, dealers are long gamma, buying dips and selling rips. the hedging dampens vol. below $1,750, they flip short gamma. selling into weakness, buying into strength. amplifies moves. the line is drawn.
688 contracts tracked. not the deepest book but enough to read the room. calls dominant, max-pain below, IV bid. someone's positioning for a move that hasn't materialized yet.
more at falsifylab.com
#ETHFlow #PerpFunding #FundingArb $ETH
— research and educational content. not investment, legal, or tax advice. do your own research. positions and views may change without notice.
Originally published on FalsifyLab Substack.