According to @GreeksLive, Ethereum (ETH) broke above $4,400 while both implied volatility and options skew rose markedly versus last week, indicating the market is pricing greater upside risk (source: @GreeksLive on X, Aug 12, 2025). @GreeksLive also reported $330 million in block call options traded with the share stated at 24%, underscoring concentrated bullish positioning in large-sized trades (source: @GreeksLive on X, Aug 12, 2025). Given the elevated IV reported by @GreeksLive, option premiums are richer than last week, so spread-based bullish structures can reduce vega and premium outlay compared with outright calls under these conditions (source: @GreeksLive on X, Aug 12, 2025).