[Bitcoin options daily] Open interest at $38.56 billion; $86,000 calls lead volume

Bitcoin options open interest rose 0.19% to $38.56 billion, with calls accounting for the larger share of both outstanding positions and daily trading volume. The $86,000 call led trading volume, while a $30,000 put ranked third.

Calls held a stronger lead in open interest than in daily turnover, showing a difference between the composition of outstanding positions and the contracts being actively traded.

As of October 22, 2026, at 11:20 UTC, Bitcoin options open interest stood at $38.56 billion, up from $38.49 billion the previous day. Daily options trading volume totaled $5.40 billion.

Calls represented 59.47% of open interest, compared with 40.53% for puts. In 24-hour trading volume, calls accounted for 53.82% and puts for 46.18%.

The larger call share was consistent with positioning toward potential gains. However, the closer split in daily volume and the presence of a put among the most actively traded contracts suggested that downside positioning or hedging also featured in trading.

The contracts with the highest open interest were, in order, the $95,000 call, the $100,000 call and the $90,000 call, all expiring on October 30, 2026, on Deribit.

The leading contracts by 24-hour trading volume were, in order, the $86,000 call and the $85,000 call expiring on October 30, 2026, followed by the $30,000 put expiring on December 25, 2026. All were listed on Deribit.

[Editor's note] Options are derivatives used to take leveraged positions on an underlying asset or hedge existing exposure. A call gives its holder the right to buy at a predetermined price, while a put gives its holder the right to sell. Open interest measures outstanding contracts and indicates the accumulated size of positions.

Open interest and trading volume provide different views of positioning: the former tracks contracts that remain outstanding, while the latter measures trading activity over a period. Call and put shares can help assess that activity, although the proportions alone do not establish whether trades reflect directional bets or hedges.