BTC options daily: Open interest at $38.14 billion as $60,000 put leads volume

Medium-term positioning in the bitcoin options market remained tilted toward calls. Short-term trading, however, showed stronger demand for puts, pointing to a more defensive tone in recent flow.

As of Oct. 14, bitcoin options open interest stood at $38.14 billion, up 1.47% from $37.59 billion a day earlier. Bitcoin options volume was about $2.80 billion.

Calls accounted for 59.5% of open interest, while puts made up 40.5%. By 24-hour volume, calls represented 43.9% and puts 56.1%.

The open-interest mix suggests positioning remained more heavily allocated to upside exposure. The volume split, by contrast, indicates put demand led recent trading, consistent with short-term hedging or volatility positioning.

The largest open-interest contracts were the $95,000 call expiring Oct. 30, 2026 on Deribit, followed by 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 $60,000 put expiring March 26, 2027 on Deribit, the $78,000 put expiring Oct. 30, 2026 on Deribit and the $75,000 put expiring Oct. 30, 2026 on Deribit.

Editor’s note: Options are derivatives used to take leveraged exposure to moves in an underlying asset or to hedge existing positions. Calls give the holder the right to buy at a set price, while puts give the holder the right to sell at a set price. Open interest measures the total amount of outstanding options contracts in the market.

Call and put shares, together with changes in open interest and volume, are commonly used to distinguish medium-term positioning from shorter-term trading flows. Rising open interest can indicate new positions being added, while a put-heavy volume mix alongside call-heavy open interest may suggest defensive trading demand is also present.