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

Despite a challenging quarter for Ether, traders on Deribit are showing strong interest in the $6,500 strike call. As of now, the notional open interest—the total dollar value of active contracts—stands at $383.5 million, the highest among all Ether options on the exchange, according to Deribit Metrics. Other frequently traded strikes include $4,000, $5,500, and $6,000 calls.

A $6,500 call represents a bet that Ether’s spot price will rise above that level, signaling a bullish stance from the buyers.

Ether’s price has struggled this quarter, falling roughly 26% to $3,033. At one point last month, the cryptocurrency briefly dipped below $2,650, according to CoinDesk data.