Analyst: Ethereum options open interest reaches multi-month high, showing bullish bias

Analysts have noticed significant growth in Ethereum options open interest, with much of the growth showing a bullish bias. "Ethereum options open interest has increased by more than 300,000 contracts over the past week," said Jag Kooner, head of derivatives at Bitfinex. The Block’s data dashboard shows that total open interest in Ethereum options on cryptocurrency derivatives exchanges has reached a multi-month high of $9 billion. Similarly, Ethereum options open interest on the Chicago Mercantile Exchange (CME) has also risen sharply, recently reaching a new all-time high. Open interest in CME Ethereum options for February has reached $543.25 million, with nearly two days left until Friday’s February 23 month-end expiry date.