[Bitcoin options daily] Open interest at $37.31 billion; $98,000 calls lead volume

Bitcoin options open interest fell 3.25% from the previous day to $37.31 billion, while calls retained the larger share of both outstanding positions and daily trading volume. The $98,000 call led trading volume.

Call options dominated outstanding positions more clearly than daily trading, showing a stronger directional tilt in accumulated exposure than in short-term activity.

As of October 23, 2026, at 11:20 UTC, total Bitcoin options open interest stood at $37.31 billion, down from $38.56 billion the previous day. Trading volume totaled approximately $2.99 billion.

Calls accounted for 59.70% of open interest and puts for 40.30%. In 24-hour trading volume, calls represented 51.41% and puts 48.59%.

The larger call share of open interest indicated a tilt toward upside exposure in outstanding positions. Calls also led trading volume, although the narrower gap between calls and puts suggested a more balanced short-term trading mix.

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

The leading contracts by 24-hour trading volume were, in order, the $98,000 call expiring November 27, 2026; the $88,000 call expiring December 25, 2026; and the $90,000 call expiring November 27, 2026. All were listed on Deribit.

[Editor's note] Options are derivatives used to take leveraged exposure to an underlying asset's price movements or hedge existing positions. Calls give holders the right to buy at a predetermined price, while puts give holders the right to sell. Open interest measures outstanding contracts and indicates the scale of accumulated positions.

Call and put shares, together with changes in open interest and volume, help distinguish accumulated positioning from short-term trading activity. These measures require context: a larger call share of open interest can coexist with demand for downside protection in daily trading.