[Bitcoin options daily] Open interest reaches $37.38 billion; $78,000 put leads volume

Bitcoin options open interest rose 0.41% from the previous day to $37.38 billion, with calls accounting for 59.45% of outstanding positions. Puts led daily trading with a 51.80% share, pointing to a divergence between accumulated positioning and near-term activity.

Call options dominated outstanding bitcoin contracts, while puts accounted for the larger share of daily turnover. The split suggests upside positioning alongside demand for short-term downside protection.

As of October 26 at 11:06 UTC, total bitcoin options open interest stood at $37.38 billion, up from $37.23 billion the previous day. Daily options trading volume totaled approximately $2.05 billion.

Calls represented 59.45% of open interest and puts 40.55%. By 24-hour trading volume, calls accounted for 48.20% and puts for 51.80%.

The call-heavy open interest mix suggests accumulated positions lean toward upside exposure. The greater share of puts in daily trading may reflect demand for downside hedges, although these proportions alone do not establish traders’ intentions.

The leading contracts by open interest were the $95,000 call expiring October 30 on Deribit, followed by the $100,000 call and the $90,000 call with the same expiry on Deribit.

The leading contracts by 24-hour volume were the $78,000 put expiring October 27 on Bybit, the $77,000 put expiring October 28 on Deribit, and the $83,000 call expiring October 27 on Binance.

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

Comparing call and put shares across open interest and trading volume can help distinguish accumulated positioning from shorter-term activity. Rising open interest indicates an increase in outstanding contracts, but does not by itself establish a directional outlook. Call-heavy open interest alongside put-heavy turnover can be consistent with upside exposure and simultaneous demand for downside protection or volatility strategies.