[Ether options daily] Open interest reaches $5.80 billion; $4,500 calls lead volume

Ethereum options open interest rose 0.64% from the previous day to $5.80 billion, while 24-hour trading volume totaled $792.61 million. Calls accounted for the larger share of both outstanding positions and trading volume, with a $4,500 call leading activity.

Calls dominated Ethereum options positioning and short-term trading. Their share of trading volume was lower than their share of open interest.

As of 11:21 UTC on October 27, 2026, Ethereum options open interest stood at $5.80 billion, up from $5.77 billion the previous day. Options trading volume over 24 hours reached $792.61 million.

Calls represented 62.27% of open interest, compared with 37.73% for puts. In 24-hour trading volume, calls accounted for 57.55% and puts for 42.45%.

The open-interest mix showed a larger concentration in calls. Calls also led short-term activity, although their smaller share of volume indicated a less pronounced concentration than in outstanding positions.

The contracts with the most open interest were, in order, the $3,200 call expiring December 25, 2026, on Deribit; the $2,200 call expiring December 25, 2026, on Deribit; and the $2,600 call expiring October 30, 2026, on Deribit.

The leading contracts by 24-hour volume were, in order, the $4,500 call expiring October 30, 2026, on Bybit; the $2,100 put expiring October 28, 2026, on Binance; and the $2,650 call expiring October 28, 2026, on Bybit.

[Editor's note] Options allow investors to take leveraged exposure to an underlying asset 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 accumulated size of positions.

Call and put shares, together with changes in open interest and volume, help distinguish accumulated positioning from short-term activity. Rising open interest indicates an increase in outstanding positions. A larger call share alone does not establish market direction, since options can also form part of hedging strategies.