[ETH options daily] Open interest falls to $5.57 billion; $2,050 puts lead trading volume

Ethereum options open interest fell 10.33% from the previous day to $5.57 billion, while 24-hour trading volume totaled $682.71 million. Calls accounted for the larger share of both outstanding positions and trading, although their share of volume was lower than their share of open interest.

Outstanding positions remained weighted toward calls as the overall position base contracted. Daily trading was more evenly split between calls and puts.

As of November 7 at 12:21 UTC, Ethereum options open interest stood at $5.57 billion, down from $6.21 billion the previous day. Options trading volume over 24 hours reached $682.71 million.

Calls represented 62.11% of open interest, with puts accounting for 37.89%. By 24-hour trading volume, calls held a 52.45% share and puts 47.55%.

The call-heavy open-interest mix indicated a greater concentration in contracts offering upside exposure. Calls also led daily volume, but their smaller margin over puts showed a more balanced mix of short-term activity than outstanding positions.

The contracts with the most open interest, in descending order, were the $3,200 call expiring December 25, 2026, on Deribit; the $2,200 call expiring December 25, 2026, on Deribit; and the $2,000 put expiring November 13, 2026, on Deribit.

The leading contracts by 24-hour trading volume were the $2,050 put expiring November 8, 2026, on Binance; the $2,350 call expiring November 8, 2026, on Binance; and the $2,150 put expiring November 9, 2026, on Binance.

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

Open interest and trading volume provide different views of positioning: the former captures outstanding exposure, while the latter measures trading activity over a period. Call and put shares can help describe that mix, but do not by themselves establish traders' directional intentions, since options can also form part of hedges and multi-contract strategies.