[Bitcoin options daily] Open interest at $37.23 billion; $75,000 puts lead volume

Bitcoin options open interest fell 0.08% from the previous day to $37.23 billion, with calls accounting for the larger share of outstanding positions. Puts represented 63.99% of daily trading volume, led by the $75,000 put contract.

Outstanding positions and daily turnover showed different tilts in the Bitcoin options market. Calls dominated accumulated positions, while puts led trading activity, a pattern consistent with demand for downside protection.

As of 11:20 UTC on October 25, 2026, Bitcoin options open interest totaled $37.23 billion, down from $37.26 billion the previous day. Daily options trading volume stood at approximately $2.26 billion.

Calls accounted for 59.53% of open interest and puts for 40.47%. By 24-hour trading volume, calls represented 36.01% and puts 63.99%.

The larger call share of open interest suggests an upside tilt in outstanding positions. The heavier put turnover may reflect more immediate hedging demand, although these shares alone do not establish traders' directional intentions.

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 volume were the $75,000 put expiring on December 25, 2026, followed by the $72,000 put with the same expiry, then the $73,000 put expiring on October 30, 2026. All three traded on Deribit.

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

Comparing call and put shares across open interest and trading volume helps distinguish accumulated positioning from current trading activity. Rising open interest indicates an increase in outstanding contracts. A market with call-heavy open interest and put-heavy turnover can also reflect simultaneous demand for upside exposure and downside protection.