# Bitcoin options open interest reaches $1.15 billion as 24-hour puts lead By Riza Dagoc Canonical URL: https://www.tokenpost.com/news/investing/33218 Published: 2026-10-16T11:42:17.000Z Updated: 2026-10-16T11:42:17.000Z Section: Investing > Bitcoin options expiring Oct. 23 carried $1.15 billion in open interest, with a put-to-call ratio of 1.24. Puts also narrowly led 24-hour volume with a ratio of 1.06. Bitcoin options expiring Oct. 23 showed bearish positioning, while puts also narrowly outpaced calls in 24-hour trading. Put demand led both open interest for the Oct. 23 expiry and recent trading, while higher-strike calls dominated positioning across all expiries. As of 11:41 a.m. on Oct. 16, open interest in Bitcoin options expiring Oct. 23 totaled 13,773 contracts, with a notional value of about $1.15 billion. Call open interest stood at 6,149 contracts and put open interest at 7,624, producing a put-to-call ratio of 1.24. A put-to-call ratio below 0.7 to 0.8 is generally viewed as bullish, while a reading above 1 is considered bearish. The current ratio of 1.24 indicates stronger demand for downside protection. The max pain price, where option buyers would incur the greatest aggregate losses at expiry, was $82,000. For the Oct. 23 expiry, the largest open-interest concentration was in the $78,000 put, followed by the $70,000 put and the $80,000 put, showing positioning concentrated below the underlying price of $83,239.51. Across all expiries, the $95,000 call held the most open interest, followed by the $90,000 and $100,000 calls, indicating that the largest overall positions were concentrated in higher-strike calls. ![Bitcoin options open interest reaches $1.15 billion as 24-hour puts lead]() Most-traded option contracts over 24 hours Over the past 24 hours, put volume totaled 13,248.70 contracts, compared with 12,516.20 call contracts. The volume-based put-to-call ratio was 1.06, leaving puts with a narrow lead. Most-traded options $80,000 put (Oct. 30), $85,000 call (Oct. 30), $79,000 put (Oct. 30), $70,000 put (Oct. 23), $90,000 call (Nov. 27) Open-interest concentration by expiry ▲Oct. 30 (66% calls) ▲Dec. 25 (62% calls) ▲March 26 (61% calls) Highest-volume expiries ▲Oct. 30 (57% puts) ▲Oct. 23 (61% puts) ▲Nov. 27 (63% calls) Bitcoin was trading at $82,720.01, up 1.94% over 24 hours. Editor's note Options are derivatives used to take leveraged positions on an underlying asset or hedge existing exposure. Calls provide the right to buy the asset at a predetermined price, while puts provide the right to sell. Open interest is the total number of outstanding options contracts. This article is based on market data and chart analysis and does not constitute investment advice.