The demand for high strike price options on Ethereum $ETH has sharply increased: the most popular contract at #Deribit is the call option with a price of $6500, for which the notional open interest exceeded $380 million. This is the highest value among all coin options on the exchange.
Among other popular contracts are call options with strike prices of $4000, $5500, and $6000. The $6500 option reflects traders' bets that the price #Ethereum will exceed this level in the future, indicating a strong bullish sentiment, despite current market weakness.
It is worth noting that November was one of the weakest months for the coin in years: according to market statistics, Ethereum dropped by 22.38%, marking its worst decline since 2018. However, at the beginning of December, the market somewhat stabilized — Ethereum managed to stay above the $3,000 level.
Support for the second-largest cryptocurrency by market capitalization is expressed not only by options traders but also by major financial figures. Former BlackRock executive Joseph Chalom stated that Ethereum is "the infrastructure on which the future financial system will be built."
