Ethereum Options Traders Lean Bullish Amid Rising Open Interest

Ethereum options traders are growing increasingly bullish, despite persistent demand for downside protection. According to CoinGlass data, Ethereum's total options 'open interest' (OI) rose to $4.63049 billion, a 4.20% increase from the previous day.

The composition of outstanding positions showed calls accounting for 61.22% of OI versus 38.78% for puts, with recent trading flow also skewed toward calls at 58.47% of volume compared to 41.53% for puts.

The largest concentration of OI was clustered in higher-strike December contracts on Deribit, led by the $3,200 call expiring Dec. 25 and the $2,200 call expiring Dec. 25. On Bybit, same-day expiries saw heavy trading volumes concentrated around nearby strikes, particularly the $1,900 call expiring Aug. 6.