[Ether options daily] Open interest at $5.34 billion; $3,200 calls lead trading volume

Ethereum options open interest fell 7.13% from the previous day to $5.34 billion. Calls accounted for the majority of both outstanding positions and daily trading volume, with the December 25, 2026 $3,200 call leading both contract rankings.

Call options dominated Ethereum options positioning and trading activity. The three most actively traded contracts were all calls expiring on December 25, 2026.

As of November 14, 2026, total Ethereum options open interest stood at $5.34 billion, down from $5.75 billion the previous day. Trading volume totaled $1.64 billion.

Calls represented 63.64% of open interest, compared with 36.36% for puts. In 24-hour trading volume, calls accounted for 58.20% and puts for 41.80%.

Calls held the larger share of both outstanding positions and daily turnover, although puts accounted for a greater proportion of trading volume than open interest. The leading individual contracts also showed a concentration in calls, with the same December 25, 2026 $3,200 contract topping both rankings.

The contracts with the most open interest were, in order, the December 25, 2026 $3,200 call, the December 25, 2026 $2,200 call and the November 20, 2026 $1,800 put. All three were on Deribit.

The leading contracts by 24-hour trading volume were, in order, the December 25, 2026 $3,200 call, the December 25, 2026 $3,500 call and the December 25, 2026 $2,200 call. All three were on Deribit.

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

Open interest and trading volume describe different aspects of market activity: outstanding exposure and turnover during a period. Call and put shares provide context for that activity, but do not by themselves establish whether positions reflect directional trades or hedges.