Bitcoin options OI rises to $37.59 billion; $86,000 call leads volume

Medium-term positioning in the Bitcoin options market remained tilted toward calls. Daily trading was almost evenly split, with puts holding a narrow edge.

As of Oct. 13 at 11:20 UTC, Bitcoin options open interest stood at $37.59 billion, up 0.61% from $37.36 billion the previous day. Bitcoin options volume totaled about $3.13 billion.

Open interest was made up of 60.10% call options and 39.90% put options. By 24-hour volume, calls accounted for 49.85% and puts for 50.15%.

The open-interest mix showed calls retaining a clear lead, suggesting more medium-term positioning on the upside. The volume split, however, showed slightly stronger put demand, pointing to short-term hedging or volatility positioning.

The largest open-interest contracts were the $95,000 call expiring Oct. 30, 2026 on Deribit, the $90,000 call expiring Oct. 30, 2026 on Deribit, and the $100,000 call expiring Oct. 30, 2026 on Deribit.

The top contracts by 24-hour volume were the $86,000 call expiring Oct. 14, 2026 on Binance, the $85,000 call expiring Oct. 14, 2026 on Binance, and the $89,000 call expiring Oct. 16, 2026 on Binance.

Options are derivatives that can be used to take leveraged exposure to moves in an underlying asset or to hedge existing positions. A call option gives the holder the right to buy at a set price in the future, while a put option gives the right to sell. Open interest measures the total number of outstanding contracts and indicates the scale of positioning still active in the market.

The balance between calls and puts, and the difference between open-interest and volume trends, can help separate medium-term positioning from shorter-term trading. Rising open interest points to new positions entering the market, while a put-heavy volume profile can signal demand for downside protection even when open interest remains call-heavy.