The Ether options market is witnessing increased bullish sentiment as traders anticipate potential price surges, particularly concerning the noteworthy open interest in $5,000 call options set to expire soon.

Insights from the Deribit derivatives exchange point towards a concentration of open interest in ether options at the $5,000 strike, confirming the prevailing positive market outlook.

SynFutures' co-founder Rachel Lin and other analysts have recognized this trend, supported by Deribit's data revealing a cluster of call options at the $5,000 strike.

Research by QCP Capital delves into traders' maneuvers, revealing an optimistic forecast for Ether in the near term. Traders are strategically engaging by buying $4,000 strike call options and selling $5,000 strike call options, both expiring by the end of June 2024.

Reports from QCP Capital analysts highlight a bullish sentiment towards ether, with significant purchases of $4,000 to $5,000 call spreads for the end of June 2024.

Moreover, the put-call ratio, favoring call options over puts, underpins the prevailing positivity. Lin mentions that 35% of Ether's open interest resides in puts, opposed to 65% in calls, further evidenced by Deribit's 0.56 put-call ratio for the June expiry.

Despite spot market consolidations, the options market paints a rosy picture for June, echoing Lin's sentiment of a potential bullish rally in the near future.

Although the U.S. Securities and Exchange Commission has greenlit ether spot ETFs, their rollout may lag behind bitcoin ETFs. QCP Capital analysts stress the importance of clarity on S-1 approvals before forecasting a potential surge in ether's price.

According to data from CoinMarketCap, Ether's price has seen a slight uptick of 0.2%, reaching $3,768.