Due to the naked call(s) involved in this strategy, a margin account is required to play the call ratio spread. In other words, this strategy is best reserved for experienced option players.

Deribit-listed options show a persistent bullish ... ETH calls trade at a relatively lesser volatility premium to puts. In other words, the ether-bitcoin ratio is seen extending the downtrend.

A put/call ratio is a sentiment indicator that compares the number of bearish put options sold on an asset to the number of bullish call options, usually over the period of one trading day.

Since you've sold more options than you've purchased in a put ratio spread, rising implied volatility has a somewhat negative effect. Higher volatility will increase the value of your purchased ...