Monthly $1.9B Ethereum futures and options expiry will determine if ETH hits $3K

[Fawpac2]

The May 28 futures and options expiry could be a turning point for Ether (ETH) as the cryptocurrency rebounded 60% from its $1,730 low on May 23. Even though the open interest stands at $6.2 billion, only 16% is set to expire on Friday as most of the action takes place on perpetual and June contracts.
One must account for the options expiry as it could present an imbalance of forces. This feature is not true for futures markets, where longs (buyers) and shorts (sellers) are matched at all times.
Options are divided into two independent segments: call (buy) options which are most commonly used for neutral-to-bullish strategies, and the neutral-to-bearish put (sell) options.
Therefore, while Ether futures longs and shorts are matched at all times, options markets provide a clear picture of whatever side takes the advantage. Source