# [Bitcoin options watch] Open interest at $1.05 billion as puts lead trading By Riza Dagoc Canonical URL: https://www.tokenpost.com/news/investing/56640 Published: 2026-11-13T12:42:20.000Z Updated: 2026-11-13T12:42:20.000Z Section: Investing > Bitcoin options expiring November 20 had $1.05 billion in open interest and a put/call ratio of 1.08. Put trading volume for that expiry was almost twice call volume. Bitcoin options expiring on November 20 showed a modest put bias in open interest, while put trading volume was almost twice call volume for those contracts. Across all expiries, puts also led trading over the past 24 hours. The November 20 contracts had an open-interest put/call ratio of 1.08, compared with a trading-volume ratio of 1.90, showing a stronger put bias in trading than in outstanding positions. As of November 13, total open interest for the November 20 expiry stood at 15,204 contracts, with a notional value of approximately $1.05 billion. Call open interest totaled 7,321 contracts, while put open interest reached 7,883 contracts. Puts slightly outnumbered calls in outstanding positions for that expiry. Trading volume showed a wider gap, with 5,444 puts traded against 2,859 calls. The max pain price—the settlement level at which option buyers would incur the greatest aggregate losses—was $74,000 for the November 20 expiry. The $70,000 put held the largest open interest for that expiry, at 1,877 contracts. It was followed by the $75,000 call with 1,283 contracts and the $72,000 put with 1,102 contracts. ![ Bitcoin options watch Open interest at $1.05 billion as puts lead trading]() Across all expiries, the largest open-interest concentration was in the $80,000 call, followed by the $60,000 put and the $90,000 call. Total outstanding positions had a notional value of $22.91 billion, with an open-interest put/call ratio of 0.77. Most actively traded Bitcoin options over the past 24 hours. Across all expiries, put trading volume reached 33,740 contracts over the past 24 hours, compared with 25,668 calls. The volume-based put/call ratio stood at 1.31. Most actively traded options The November 27 $68,000 put; the November 27 $72,000 put; the December 25 $100,000 call; the November 20 $70,000 put; and the November 27 $73,000 call. Expiries with concentrated open interest December 25, with calls accounting for 58%; November 27, 52%; and March 26, 60%. Most actively traded expiries November 27, with calls accounting for 45%; December 25, 43%; and November 20, 34%. Bitcoin traded at $69,263.45, down 5.01% over the past 24 hours. [Editor's note] Options give buyers the right to buy or sell an underlying asset at a predetermined price and can be used for leveraged exposure or hedging. Calls give the right to buy, while puts give the right to sell. Open interest measures outstanding option contracts.