Ethereum Options Market Shows Bullish Bias with Call Dominance

Ethereum options market is showing a tilt toward upward momentum in both medium-term and short-term trends. However, open interest has slightly decreased, suggesting selective rather than expansive positioning. According to CoinGlass data as of 9:50 a.m. on October 17, Ethereum options open interest (OI) totaled $7.3658 billion, down 0.08% from the previous day's $7.3718 billion. The total trading volume for Ethereum options was approximately $1.48868 billion.

Open interest breakdown shows call options at 61.78% and put options at 38.22%. On a 24-hour trading volume basis, calls accounted for 56.97% while puts made up 43.03%. The dominance of call options in open interest indicates that medium-term positions are more heavily positioned for upward movement. Similarly, the higher proportion of call options in trading volume suggests short-term responses to potential price rebounds or further gains.

The contracts with the highest open interest were:

• 3200 USD call option (December 25, Deribit)
• 2200 USD call option (December 25, Deribit)
• 3000 USD call option (September 25, Deribit)

• 2480 USD call option (September 17, Deribit)
• 2300 USD put option (September 17, Bybit)
• 2420 USD call option (September 17, Bybit)