According to Odaily, Greeks.live macro researcher Adam posted on the X platform that the implied volatility (IV) for ETH has surpassed 80%, significantly higher than the recent average of 60%. The trading distribution shows that proactive buying of call options accounted for nearly half of the day's trading volume, with a slight skew towards bullish sentiment. The options market today is primarily driven by bullish forces, indicating strong buying interest. However, it is noted that the bullish momentum is weaker compared to the period when the BTC ETF was listed, which saw a decline due to heavy selling.

Interestingly, today's block trades are mostly concentrated in BTC, with over 5,000 deep out-of-the-money call options traded. In contrast, ETH trading is more focused on the order book, with market makers actively adjusting their positions amid the market's heightened activity.