📊 Altcoin Options Daily Recap – May 2, 2025
XRP and HYPE100 lead the charge as call option buyers take over the tape.
📌 Daily Highlights
🧠 Client positioning:
54% Bought Call Options
25% Sold Put Options
22% Sold Call Options
🪙 Top flow tokens: XRP, PAXG, HYPE100, TRUMP100
📆 Most trades focused on May 2 expiration, but May 9 and May 30 expiries also saw structured flow
🚀 Call Option Buyers Take Control
Today saw one of the most bullish flows in weeks — with XRP, HYPE100, and TRUMP100 call options dominating the top strike activity and trader direction.
Option buyers were active on:
XRP 2.215–2.225 call strikes
HYPE100 2200C and 2400C
TRUMP100 3000C, though most of that size was from call option selling into implied vol spikes
🪙 Top Altcoins by Flow Share
XRP: 37.3%
PAXG: 25.7%
HYPE100: 24.9%
TRUMP100: 5.0%
Others: AAVE10, DOGE, VIRTUAL100, SOL, PYTH10000, SEI10000
XRP continued to absorb upside plays across multiple strikes, while HYPE100 regained momentum with size at 2400 call options into this week’s expiry.
💰 Largest Altcoin Option Trades (Client Role)
HYPE100 2400 Call Option exp 2-May: $799.2K → Bought Call Option
XRP 2.215 Call Option exp 2-May: $557.5K → Bought Call Option
TRUMP100 3000 Call Option exp 2-May: $199.4K → Sold Call Option
PAXG 3375 Call Option exp 2-May: $162.9K → Sold Call Option
AAVE10 1450 Put Option exp 2-May: $43.6K → Sold Put Option
📌 Clear narrative rotation back into meme convexity and major breakout positioning, with call selling primarily used to hedge or fund exposure.
📈 Call vs Put Flow
Call Options: 75%
Put Options: 25%
Another call-dominant day, continuing the meme and momentum rotation themes seen since late April.
🧭 Directional Positioning Breakdown
✅ Bought Call Options: 54%
💰 Sold Put Options: 25%
🔻 Sold Call Options: 22%
📉 Bought Put Options: 0%
❓ Unknown: 0%
Call buying dominated positioning — especially in XRP and HYPE100 options — while put selling remained a consistent income strategy on majors like PAXG and AAVE10.
📅 Expiration Breakdown
May 2 (Friday): 40.2%
May 1 (Thursday): 25.8%
May 4–9: 14.4% combined
May 30: 4.1%
The bulk of trades targeted this week’s cycle, but some clients began rolling into May 9 and May 30 — likely building laddered exposure or structuring medium-term vol selling.
🎯 Top Strike Activity (Most Active Option Strikes)
XRP 2.22 Call Option: $1.12M
HYPE100 2200C / 2400C: $880K / $799K
TRUMP100 3000C: $200K
PAXG 3355–3365 Call Options: $485K each
XRP 2.215C / 2.225C / 2.15C: $300K–500K each
AAVE10 1450 Put Option: $43K
Strike activity was concentrated across well-known meme and macro breakout levels, suggesting that option traders are leaning hard into Friday price action.
