[ETH options daily] Open interest at $5.44 billion; $4,500 calls lead volume

Ethereum options open interest stood at $5.44 billion, down 0.27% from the previous day, while 24-hour trading volume reached $1.09 billion. Calls accounted for the larger share of both outstanding positions and daily turnover.

Call options held a clear lead across both measures. Their shares of open interest and trading volume were closely aligned, indicating a similar balance between calls and puts in accumulated positions and recent activity.

As of November 3, 2026, at 12:06 UTC, total Ethereum options open interest was $5.44 billion, compared with $5.45 billion previously. Trading volume over 24 hours totaled $1.09 billion.

Calls represented 61.72% of open interest, with puts accounting for 38.28%. By 24-hour volume, calls made up 60.35% and puts 39.65%.

The call-heavy composition extended from outstanding positions to daily trading. These proportions describe the mix of contracts, however, and do not alone establish whether trades were directional bets or hedges.

The contracts with the highest open interest were, in order, Deribit’s $3,200 calls expiring December 25, 2026; Deribit’s $2,200 calls expiring December 25, 2026; and Deribit’s $2,000 puts expiring November 13, 2026.

The leading contracts by 24-hour volume were Bybit’s $4,500 calls expiring November 6, 2026; OKX’s $2,350 calls expiring November 4, 2026; and Binance’s $2,600 calls expiring November 6, 2026.

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

Open interest, trading volume and the balance between calls and puts provide different views of positioning and recent activity. A larger call share can coexist with hedging demand, so the contract mix should be interpreted alongside changes in outstanding positions and turnover.