Ethereum Options Surge: Call Buyers Dominate as Bullish Sentiment Builds

- Bullish Sentiment in Ethereum (ETH) Options Market, Increase in Call Option Demand - Put/Call Open Interest Ratio Aggregated at 0.43, Volume Ratio at 0.63 [Unblock Media] On-chain analysis firm Glassnode diagnosed on June 12th that the Ethereum (ETH) options market is showing a clear bullish sentiment. According to recent data released by Glassnode on its official X (formerly Twitter) account, the put/call open interest ratio (OI ratio) remains low at 0.43, and the put/call volume ratio is aggregated at 0.63. An open interest ratio of 0.43 indicates that there are approximately 2.3 times more call options than put options among currently active (valid) option contracts. A volume ratio of 0.63 implies that call options have been traded about 1.6 times more actively than put options over the past day. To summarize, put options are products that bet on a price decrease, while call options bet on a price increase. Therefore, the fact that both indicators are below 1 clearly shows that market participants are betting on further price increases for Ethereum. Simultaneously, the option skew of Ethereum options has also turned bullish. Changes in the one-week skew from -2.4% to -7.0% and the one-month skew from -5.6% to -6.1% have been observed within the past 48 hours. This is a short-term bullish signal, particularly indicating a rapid increase in demand for short-term call options. With the put/call open interest and volume ratios both recording below 0.5, and the skew indicator reflecting stronger short-term call demand, all these figures suggest that market investors are expecting further rises in Ethereum. The current surge in expectations aligns with factors such as prospects of stabilized interest rate policies in the US and Europe, signs of recovery in the Web3 ecosystem including NFTs and DeFi, and psychological/technical support factors (e.g., ETF approval expectations, Layer 2 upgrades). The dominance in open interests (0.43) and trading volume (0.63) for call options in the Ethereum options market clearly reflect an overall bullish market sentiment. Meanwhile, the option skew also shows a sharp increase in short-term call demand, indicating investors tightening their bets on price rises. In conclusion, the alignment of investors' expectations with actual trading patterns strongly suggests an increased probability of further rises in Ethereum prices.