Analysts say Ethereum options open interest is dominated by call options, reflecting a bullish market structure as traders look forward to the launch of spot ETF trading and institutional demand may increase.
QCP Capital analysts are positive about Ethereum's structural outlook, noting that the largest increase in Ethereum options open interest in the past 24 hours was concentrated in call options.
Deribit data shows that the put/call ratio of Ethereum options for all expiration dates is now 0.56. A ratio below 1 indicates that call option trading volume exceeds put option trading volume, indicating bullish market sentiment.
Analysts added that the implied volatility of Ethereum call options has been higher than that of put options in the near term, indicating that derivatives market participants expect Ethereum's price to rise, or that demand for call options is higher than that for put options. (The Block)