Amid renewed optimism for potential spot ether exchange-traded fund approvals, ether call options are more expensive than put options for all expires — indicating bullish market sentiment — an analyst said.

"Put minus call skew is negative across all expiries and increasing further beyond the end-of-June expiry, quite a bullish signal — the basis has also increased to around 14% annualized, another bullish indicator," Deribit CEO Luuk Strijers said in an email sent to The Block. 

The analysis suggests traders are willing to pay more for calls than puts, especially for options expiring at the end of June and beyond. This may be a bullish market indicator because it indicates that traders anticipate ether prices will rise in the future. Consequently, they are less inclined to pay …