Ethereum Options Bullish Sentiment Remains Despite Cooling Open Interest

Ethereum options traders remain bullish despite a decline in overall positioning and open interest.

As of August 8, data compiled by CoinGlass showed total Ethereum options 'open interest' (OI) at $4.3325 billion, down 5.64% from $4.5917 billion a day earlier.

The call-heavy composition of outstanding positions remained unchanged, with calls accounting for 61.75% of total OI and 56.03% of volume over the past 24 hours.

However, the decline in headline OI suggests some position unwinds and a more cautious posture among traders, possibly due to profit-taking or risk reduction.