Risk-averse Ethereum traders use this options strategy to increase exposure to ETH By Cointelegraph

© Reuters

On Oct. 1, the cryptocurrency market experienced a 9.5% pump that drove (BTC) and Ether (ETH) to their highest levels in 12 days. A variety of reasons have been attributed to the price move, including the U.S. consumer price index, exchanges’ diminishing supply, and a “cup and handle” bullish continuation chart formation.

Traders are not likely to find an explanation for the sudden move, apart from investors regaining confidence after the Sept. 19 drop was attributed to contagion fears from China-based property developer Evergrande.

ETH price vs. AVAX, SOL, ATOM. Source: TradingView
Ether options strategy returns. Source: Deribit Position Builder