Solana Options Frenzy Signals Bullish Momentum as Traders Eye $200 Breakout
Solana’s ongoing bull run is gathering pace, and large-scale options activity suggests traders expect the rally to extend past $200 by June’s end.
SOL has surged 85% since early April, propelled by rising risk appetite across both crypto and traditional finance. Currently trading near $176, the asset is gaining strong upside traction — and options traders are betting on more.
Block-sized trades on Deribit show heavy interest in the June 27 $200 call options. One trade last week involved 50,000 contracts for a premium of $263,000, noted Greg Magadini of Amberdata. These were snapped up while implied volatility was just 84%, historically low for Solana.
The positioning has pushed market makers into negative gamma territory, which often results in amplified price swings as they hedge their exposure.
The takeaway? If SOL continues its march upward, the momentum could snowball quickly — with $200 in sight and a potential breakout beyond, fueled by strategic derivatives activity.
