The substantial volume of call contracts and their considerable nominal value might indicate optimism regarding Ethereum's potential for value appreciation by the end of June.

Increased interest could further bolster the digital asset's price if derivative traders opt to execute their options as the price surpasses specific strike prices specified in the option spread.

Luke Nolan, a Research Associate at CoinShares, noted that strike prices for June expiry calls are predominantly positioned above $3,600, with $6,500 emerging as the most favored strike price.

Nolan highlighted a notable notional value of $192 million associated with the largest open interest before the June expiry at a $6,500 strike price, indicating confidence among certain investors in Ethereum's capability to attain or surpass that level.

"The highest open interest for June expiration is centered around a $6,500 strike price, totaling $192 million," stated Nolan.

The data also reveals an increase in outstanding calls compared to open positions in Ethereum options leading up to the late June expiration.

A call options ratio below one indicates that buying volume surpasses selling volume, signaling an upward market trend.

An investor purchasing a call option is typically interpreted as taking a bullish stance in the market, while a put option buyer is viewed as bearish. #altcoins #Cryptocurrencies #ETHETFS #EthereumPower #AltcoinGains