$ETH options flow — 2026-05-20

eth at $2,183. put/call oi ratio 0.57, calls dominate open interest. put/call volume ratio 2.17, puts dominate today's flow. nearest expiry 21may26 max-pain $2,100, atm iv 42.4%. dealer hedging flips to short gamma below $2,100, meaning spot dips below max-pain force dealers to

eth at $2,183. put/call oi ratio 0.57, calls dominate open interest. put/call volume ratio 2.17, puts dominate today’s flow. nearest expiry 21may26 max-pain $2,100, atm iv 42.4%.

dealer hedging flips to short gamma below $2,100, meaning spot dips below max-pain force dealers to sell into weakness.

one human running bots. 706 options tracked. more at falsifylab.substack.com

#OnchainAlpha $ETH

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Originally published on FalsifyLab Substack.


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