Bitcoin Options Open Interest, Bitcoin Options Trading Volume, Cryptocurrency Options Data
Open interest rank
- Deribit$23.41B
OKX$3.02B
Binance$1.46B
Bybit$1.32B
Volume rank
- Deribit$4.19B
- Bybit$1.05B
- OKX$977.14M
- Binance$10.40M
Call vs put
Open interest by strike price
| Expiry | Calls OI | Puts OI | Put / call | Max pain | Total OI | ATM IV | Days left |
|---|---|---|---|---|---|---|---|
| 14 Nov, 2026 | $108.96M | $98.11M | 0.90 | $72,500 | $207.07M | 45.4% | 0 |
| 15 Nov, 2026 | $50.67M | $46.24M | 0.91 | $72,500 | $96.91M | 33.9% | 1 |
| 16 Nov, 2026 | $21.10M | $42.40M | 2.01 | $72,000 | $63.50M | 32.8% | 2 |
| 17 Nov, 2026 | $0 | $0 | 0.00 | $61,000 | $0 | 34.9% | 3 |
| 20 Nov, 2026 | $515.84M | $554.56M | 1.08 | $74,000 | $1.07B | 38.1% | 6 |
| 27 Nov, 2026 | $3.07B | $2.79B | 0.91 | $78,000 | $5.85B | 36.9% | 13 |
| 04 Dec, 2026 | $53.84M | $22.54M | 0.42 | $72,000 | $76.39M | 36.9% | 20 |
| 25 Dec, 2026 | $5.89B | $4.20B | 0.71 | $75,000 | $10.08B | 38.1% | 41 |
| 29 Jan, 2027 | $294.16M | $241.58M | 0.82 | $76,000 | $535.74M | 38.8% | 76 |
| 26 Mar, 2027 | $2.00B | $1.34B | 0.67 | $76,000 | $3.33B | 39.7% | 132 |
| 25 Jun, 2027 | $793.71M | $580.63M | 0.73 | $78,000 | $1.37B | 40.4% | 223 |
| 24 Sep, 2027 | $423.27M | $290.01M | 0.69 | $84,000 | $713.29M | 40.7% | 314 |
Open interest rank
- Deribit$3.01B
- OKX$850.47M
- Bybit$753.29M
- Binance$591.29M
Volume rank
- Bybit$452.47M
- Deribit$445.64M
- OKX$366.02M
- Binance$9.91M
Call vs put
Open interest by strike price
| Expiry | Calls OI | Puts OI | Put / call | Max pain | Total OI | ATM IV | Days left |
|---|---|---|---|---|---|---|---|
| 14 Nov, 2026 | $42.13M | $35.50M | 0.84 | $2,020 | $77.62M | 51.7% | 0 |
| 15 Nov, 2026 | $15.52M | $20.14M | 1.30 | $2,020 | $35.66M | 40.6% | 1 |
| 16 Nov, 2026 | $6.50M | $19.75M | 3.04 | $2,020 | $26.25M | 39.6% | 2 |
| 17 Nov, 2026 | $0 | $0 | 0.00 | $1,700 | $0 | 43.9% | 3 |
| 20 Nov, 2026 | $80.53M | $143.36M | 1.78 | $2,150 | $223.90M | 49.1% | 6 |
| 27 Nov, 2026 | $352.91M | $175.29M | 0.50 | $2,350 | $528.20M | 50.5% | 13 |
| 04 Dec, 2026 | $4.62M | $6.50M | 1.41 | $2,050 | $11.13M | 51.4% | 20 |
| 25 Dec, 2026 | $928.29M | $362.43M | 0.39 | $2,200 | $1.29B | 52.1% | 41 |
| 29 Jan, 2027 | $41.74M | $41.00M | 0.98 | $2,400 | $82.74M | 52.9% | 76 |
| 26 Mar, 2027 | $337.99M | $120.27M | 0.36 | $2,200 | $458.27M | 53.4% | 132 |
| 25 Jun, 2027 | $124.30M | $73.06M | 0.59 | $2,400 | $197.36M | 54.0% | 223 |
| 24 Sep, 2027 | $50.00M | $30.93M | 0.62 | $2,700 | $80.93M | 54.2% | 314 |
This data combines the Bitcoin option chains of Deribit, OKX, Binance and Bybit, pulled from their APIs every 10 minutes, to show where positions sit, how actively they trade and how much volatility the market prices in. CME Bitcoin options are not included. ETH uses the same layout.
Open interest vs. volume
Open interest is the value of option contracts still open, counted from opening until they are closed, exercised or expire. Volume is the value traded over the last 24 hours, whether those trades opened new positions or closed existing ones.
Together they show how positioning changed:
- High volume with flat open interest means existing positions changed hands.
- Rising open interest means new exposure was added.
When a series expires, its open interest disappears at once, so totals fall after large month-end and quarter-end expiries. The rank lists split each measure by exchange.
Put/call ratio
Put/call ratio = put value ÷ call value. It is shown for open interest and for 24h volume, both in total and for each expiry.
Hypothetical example: $6B of put open interest against $8B of calls gives a ratio of 0.75. A reading below 1 means more call exposure, and above 1 means more puts. The ratio does not show who is long or short: a put can be bought as protection or sold to collect premium, so a high ratio is not by itself a bearish bet.
Max pain and the strike chart
Max pain is the strike at which the combined intrinsic value of all in-the-money calls and puts for one expiry would be smallest: the settlement price that would pay option holders the least.
The strike chart plots call and put open interest at each strike against the spot price, filterable by expiry to show where positions cluster for a given date.
Implied volatility
ATM IV is the annualized implied volatility of at-the-money options for each expiry. DVOL is Deribit’s index of expected 30-day volatility, derived from its option prices. Higher readings mean options cost more for the same underlying price.
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