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Ethereum options open interest dips to $6.61B as traders favor short-term calls amid cautious bullishness.

Market News
17 May 2026
Tokenpost
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Neutral
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Ethereum options open interest decreased slightly to $6.61 billion, with traders focusing on short-term call options around the $2,250–$2,450 strike prices. Calls represent about 60% of open interest, indicating a bullish bias, while puts still hold nearly 40%, showing ongoing demand for downside protection. Trading volume remains high at around $699 million, led by platforms like Bybit and Binance. This activity reflects a market balancing optimism for price gains with cautious hedging amid volatile conditions, watching key levels near $2,100 for protection and $3,200 for longer-term upside potential.

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