$6.5K Ether Bets Dominate Deribit Open Interest

ETH News Today: $6.5K Ether Calls Dominant on Deribit

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The $6,500 call option on Deribit is the most popular, with a notional open interest of over $380 million.

Dec 3, 2025, 5:52 a.m.

The $6,500 call option on Deribit is the most popular, with a notional open interest of over $380 million.
Ether’s price has dropped 26% this quarter to $3,033, with lows under $2,650 last month.

Ether’s ETH$2,806.95 price has had a rough quarter, still, on Deribit, the ether $6,500 call is the most popular option in terms of open interest.

As of writing, notional open interest in the $6,500 call, representing the dollar value of the active contracts, was $383.533 million, the highest among all ether options on the exchange, according to data source Deribit Metrics. Other popular plays were calls at $4,000, $5,500 and $6,000.

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A call option at the $6,500 strike represents a bet that the spot price will rally beyond that level. A call buyer is implicitly bullish on the market.

Ether’s spot price has dropped 26% to $3,033 this quarter. At one point last month, prices hit lows under $2,650, CoinDesk data show.

AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

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