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@pretoninho
Pretoninus II Mod Trader FOUNDER
Mod Trader FOUNDER
ETH Options Flow Analysis — May 18, 2026

In a position of forced neutrality, stuck to his Max Pain.
At the bottom, the first structural support is at $2,100 (put wall). Upwards, resistance is building up from $2,300 with June's ITM underwater calls weighing on the market.

Any bearish acceleration under $2,100 would trigger a gamma squeeze on the puts. Market makers would be forced to sell spots to cover themselves, amplifying the move.

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May 18, 2026 · 05:49 AM · 13 views
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Dog FOUNDER
@dog Solaris Traders · May 18, 2026 · 12:29 PM
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Hello, where did you get the data you used? I have been looking to research this too but I did not find any good data providers.
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@pretoninho
Pretoninus II Mod Trader FOUNDER
@pretoninho Solaris Traders · May 18, 2026 · 05:50 AM
Trader FOUNDER
Daily volume — May 29 is the pivot

May 29 concentrates ~35,000 contracts today with an almost balanced calls/puts distribution (18,700 vs 16,000) — slight dominance calls. This is the most bullish signal on the chart. On the other hand, the May and September 19-20 expires show a put/call imbalance of 3:1 or more — systematic protection for these dates.
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@pretoninho
Pretoninus II Mod Trader FOUNDER
@pretoninho Solaris Traders · May 18, 2026 · 05:50 AM
Trader FOUNDER
OI per exhale — two monsters dominate

June 26 (~710k contracts) and May 29 (~620k) concentrate most of the OI. The June 26 detail is critical: around 420,000 ITM contracts calls — positions bought when ETH was well above $2,250. These holders are currently under water or close to breakeven. Their behavior (rolling, cutting, holding) will be the main driver of the ETH market until the end of June.
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@pretoninho
Pretoninus II Mod Trader FOUNDER
@pretoninho Solaris Traders · May 18, 2026 · 05:51 AM
Trader FOUNDER
OI by strike — ETH stuck to its Max Pain
Very clear structure:

Massive wall of put at $2,100 → 75,000 contracts. The biggest single strike on the chart. Major institutional protection zone and potential downside target.
Max Pain $2,250 → practically AT the current SPOT. ETH is magnetized around this level for near exhalations.
Wall of calls at $3,200 → 50,000 contracts. Long-term bullish target for institutional positions.
Zone $2,300-$2,500 → Relatively well distributed OI calls (15-20k per strike) — no single wall but gradual resistance.
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