Derivatives Market Bets on Solana Reaching $200 by End of June

In the realm of Solana (SOL) options, substantial call option purchases set to expire on June 27 with a strike price of $200 have been recorded. This was reported by CoinDesk.

Greg Magadini, the derivatives director at Amberdata, informed the publication that traders acquired 50,000 contracts last week, which resulted in a premium of $263,000.

At this point, the implied volatility on an annual basis has dipped to 84%, although it typically manifests in three-digit figures, the expert noted.

According to market data, market makers currently hold a significant net negative gamma at the strike price. If SOL surpasses the $200 mark, volatility could surge dramatically, the publication warned.

CoinDesk also highlighted an 85% increase in the asset’s price since April 7. In this context, SOL has outpaced Bitcoin in terms of growth.

It’s worth noting that Sygnum has failed to identify convincing evidence that Solana will surpass Ethereum as the preferred blockchain for institutional investors.