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Bitcoin (BTC) options max pain and open interest

BTC expiry 14 Nov 2026 08:00 UTC: max pain is $70,000; expiring notional $361.03M; selected-expiry P/C OI 0.51. Bybit and Binance only. Positioning, not a price prediction.

11 expiriesSource: Bybit and Binance public APIs

BTC snapshot: (oldest included observation).

BTC open interest by absolute delta bucket and expiry →

Coverage. Covers options listed on Bybit and Binance only, not the whole market. Deribit, the largest crypto options exchange, is not included, so max pain and put/call figures here can differ from numbers quoted elsewhere.

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BTC options expiring Sat 14 Nov 2026, 08:00 UTC

daily · in 17h 37m
Max pain Bybit + Binance
$70,000
1.1% above spotindex $69,239.6
Max pain by exchange
Bybit $70,250Binance $69,750
Notional expiring
$361.03M
calls 3,461.7 BTCputs 1,752.4 BTC
Put/call ratio
0.51
open interest24h volume 0.71

Since 24h ago: max pain 73,750 → 70,000, put/call OI 1.10 → 0.51, notional $76.77M → $361.03M.

This expiry on: IV smile · chain · gamma · delta OI · Add this expiry to calendar · with 1h reminder

Max pain curve, Sat 14 Nov

total value of open options if BTC settled at each strike · lowest point = max pain · How max pain is calculated
  • Payout to option holders
  • Max pain
  • Index price
$0 $10M $20M $30M 65K 70K 75K 80K
Max pain curve by strike table

Estimated intrinsic value paid to all option holders if BTC settled exactly at each strike, from current open interest; not option market prices. Same strikes as the chart: within ±50% of the index price, at most 60.

BTC max pain curve for the Sat 14 Nov expiry: total option-holder payout by settlement strike
Strike (USD)Payout to holders (USD)
64,0007,868,683
65,0006,230,023
66,0004,691,143
67,0003,398,663
67,5002,849,808
68,0002,334,148
68,2502,121,605
68,5001,921,385
68,7501,744,838
69,0001,577,978
69,2501,459,235
69,5001,355,623
69,7501,279,453
70,000 (max pain)1,218,978
70,2501,241,375
70,5001,278,128
70,7501,332,645
71,0001,409,068
71,2501,610,608
71,5001,838,205
71,7502,139,300
72,0002,450,333
72,2502,927,503
72,5003,409,753
72,7503,927,493
73,0004,456,988
73,2505,022,215
73,5005,603,288
73,7506,222,203
74,0006,858,265
74,2507,523,538
74,7508,878,263
75,0009,568,553
75,25010,270,148
75,75011,699,648
76,00012,426,655
76,50013,972,090
77,00015,530,365
78,00018,805,785
79,00022,173,125
80,00025,621,915

Open interest by strike, Sat 14 Nov

BTC · calls above the line, puts below · stacked by exchange
  • Bybit
  • Binance
  • Max pain
  • Index price
400 200 0 200 400 600 800 64K 68.2K 69.8K 71.2K 72.8K 74.2K 76.5K 64,000: calls 0.0, puts 113.8 BTC 65,000: calls 0.0, puts 99.8 BTC 66,000: calls 1.3, puts 245.1 BTC 67,000: calls 16.3, puts 178.4 BTC 67,500: calls 0.5, puts 65.9 BTC 68,000: calls 15.7, puts 165.4 BTC 68,250: calls 23.2, puts 26.1 BTC 68,500: calls 38.3, puts 56.3 BTC 68,750: calls 19.5, puts 19.2 BTC 69,000: calls 49.7, puts 142.7 BTC 69,250: calls 35.9, puts 24.6 BTC 69,500: calls 71.6, puts 38.2 BTC 69,750: calls 47.1, puts 15.7 BTC 70,000: calls 140.5, puts 191.0 BTC 70,250: calls 52.5, puts 4.9 BTC 70,500: calls 56.6, puts 14.5 BTC 70,750: calls 79.3, puts 8.3 BTC 71,000: calls 436.7, puts 63.8 BTC 71,250: calls 95.1, puts 9.1 BTC 71,500: calls 245.6, puts 48.4 BTC 71,750: calls 36.5, puts 3.2 BTC 72,000: calls 624.8, puts 39.7 BTC 72,250: calls 17.9, puts 2.4 BTC 72,500: calls 128.6, puts 13.3 BTC 72,750: calls 30.7, puts 16.4 BTC 73,000: calls 118.1, puts 24.9 BTC 73,250: calls 44.1, puts 19.3 BTC 73,500: calls 116.9, puts 34.5 BTC 73,750: calls 46.4, puts 22.2 BTC 74,000: calls 98.0, puts 18.9 BTC 74,250: calls 40.3, puts 8.1 BTC 74,750: calls 44.7, puts 7.0 BTC 75,000: calls 41.7, puts 3.6 BTC 75,250: calls 49.4, puts 3.2 BTC 75,750: calls 49.0, puts 0.0 BTC 76,000: calls 180.4, puts 2.5 BTC 76,500: calls 25.7, puts 0.0 BTC 77,000: calls 158.9, puts 0.0 BTC 78,000: calls 91.9, puts 0.0 BTC 79,000: calls 81.5, puts 0.0 BTC 80,000: calls 10.9, puts 2.0 BTC

Axis in BTC (open interest in coins). Upper bars: calls; lower bars: puts.

Chart and table show 41 of 41 source strikes, $64,000–$80,000. Select strikes within ±50% of the index price, then the 60 closest if capped. 41 eligible before the cap; 0 omitted (0 outside the index range, 0 by the cap). Omitted strikes are not zero. Selected-expiry totals and max pain use the complete eligible source chain; these bars are a bounded view.

BTC open interest by strike table, Sat 14 Nov 2026, 08:00 UTC

Same strikes and exchanges as the chart. Both calls and puts are nonnegative open interest in BTC; the chart mirrors puts below the line.

BTC open interest by strike for the Sat 14 Nov 2026 expiry, 08:00 UTC
Strike (USD)Calls (BTC)Puts (BTC)
64,0000.0100113.7700
65,000099.7800
66,0001.2900245.1100
67,00016.3300178.4400
67,5000.540065.8500
68,00015.7300165.4200
68,25023.170026.1200
68,50038.340056.3500
68,75019.510019.2400
69,00049.7300142.7400
69,25035.900024.6200
69,50071.580038.1900
69,75047.080015.7000
70,000 (max pain)140.5100190.9800
70,25052.48004.9400
70,50056.560014.5000
70,75079.29008.3300
71,000436.710063.7600
71,25095.13009.1000
71,500245.600048.3900
71,75036.53003.2200
72,000624.810039.7400
72,25017.92002.4000
72,500128.640013.3200
72,75030.660016.3600
73,000118.050024.8800
73,25044.070019.3100
73,500116.920034.4500
73,75046.390022.2000
74,00097.960018.8800
74,25040.28008.0800
74,75044.74006.9700
75,00041.67003.5500
75,25049.39003.2300
75,75049.02000.0100
76,000180.35002.4900
76,50025.67000.0100
77,000158.87000
78,00091.91000.0100
79,00081.45000
80,00010.92002

24h volume by strike, Sat 14 Nov

BTC · calls above the line, puts below · stacked by exchange
  • Bybit
  • Binance
  • Max pain
  • Index price
1K 500 0 500 1K 1.5K 64K 68.2K 69.8K 71.2K 72.8K 74.2K 76.5K 64,000: calls 0.0, puts 164.2 BTC 65,000: calls 0.0, puts 185.3 BTC 66,000: calls 1.5, puts 505.9 BTC 67,000: calls 17.2, puts 496.6 BTC 67,500: calls 0.7, puts 151.2 BTC 68,000: calls 20.7, puts 525.1 BTC 68,250: calls 24.9, puts 89.8 BTC 68,500: calls 64.3, puts 164.4 BTC 68,750: calls 49.5, puts 67.7 BTC 69,000: calls 143.3, puts 693.5 BTC 69,250: calls 91.8, puts 67.3 BTC 69,500: calls 207.5, puts 135.6 BTC 69,750: calls 92.4, puts 29.7 BTC 70,000: calls 323.3, puts 495.5 BTC 70,250: calls 133.8, puts 13.3 BTC 70,500: calls 148.4, puts 32.7 BTC 70,750: calls 139.7, puts 11.8 BTC 71,000: calls 663.5, puts 129.7 BTC 71,250: calls 159.1, puts 19.0 BTC 71,500: calls 500.0, puts 66.8 BTC 71,750: calls 106.3, puts 13.2 BTC 72,000: calls 1,036.2, puts 43.9 BTC 72,250: calls 30.8, puts 2.4 BTC 72,500: calls 245.2, puts 9.1 BTC 72,750: calls 46.2, puts 1.2 BTC 73,000: calls 221.1, puts 15.5 BTC 73,250: calls 71.6, puts 5.2 BTC 73,500: calls 198.2, puts 25.6 BTC 73,750: calls 69.8, puts 0.0 BTC 74,000: calls 186.2, puts 8.4 BTC 74,250: calls 75.6, puts 0.3 BTC 74,750: calls 109.9, puts 0.2 BTC 75,000: calls 55.3, puts 5.8 BTC 75,250: calls 103.8, puts 0.0 BTC 75,750: calls 67.9, puts 0.0 BTC 76,000: calls 213.5, puts 2.8 BTC 76,500: calls 20.2, puts 0.0 BTC 77,000: calls 124.2, puts 0.0 BTC 78,000: calls 60.2, puts 0.0 BTC 79,000: calls 59.1, puts 0.0 BTC 80,000: calls 2.2, puts 2.0 BTC

Axis in BTC (24h volume in coins). Upper bars: calls; lower bars: puts.

Chart and table show 41 of 41 source strikes, $64,000–$80,000. Select strikes within ±50% of the index price, then the 60 closest if capped. 41 eligible before the cap; 0 omitted (0 outside the index range, 0 by the cap). Omitted strikes are not zero. Selected-expiry totals and max pain use the complete eligible source chain; these bars are a bounded view.

24h volume by strike table
Strike (USD)Calls (BTC)Puts (BTC)
64,0000.02164.21
65,0000185.32
66,0001.46505.95
67,00017.17496.61
67,5000.74151.19
68,00020.69525.09
68,25024.9189.75
68,50064.30164.45
68,75049.4567.66
69,000143.26693.46
69,25091.8167.34
69,500207.49135.61
69,75092.4429.70
70,000323.31495.46
70,250133.7713.31
70,500148.4132.69
70,750139.7311.75
71,000663.55129.73
71,250159.1218.97
71,500500.0366.79
71,750106.3413.15
72,0001,036.1843.87
72,25030.772.43
72,500245.179.06
72,75046.171.16
73,000221.1215.51
73,25071.605.21
73,500198.2125.57
73,75069.830
74,000186.198.39
74,25075.610.30
74,750109.900.22
75,00055.265.79
75,250103.770.02
75,75067.930.01
76,000213.472.83
76,50020.200
77,000124.160
78,00060.200.01
79,00059.150
80,0002.202

Open interest change by strike, Sat 14 Nov

BTC · 24h change · calls signed, puts mirrored · stacked by exchange · How to read open interest changes
  • Bybit
  • Binance
  • Index price
400 200 0 200 400 600 800 64K 68.2K 69.8K 71.2K 72.8K 74.2K 76.5K 64,000: calls 0.0, puts 113.8 BTC 65,000: calls 0.0, puts 99.8 BTC 66,000: calls 1.3, puts 245.1 BTC 67,000: calls 16.3, puts 129.9 BTC 67,500: calls 0.5, puts 65.9 BTC 68,000: calls 15.7, puts 135.8 BTC 68,250: calls 23.2, puts 26.1 BTC 68,500: calls 38.3, puts 56.3 BTC 68,750: calls 19.5, puts 19.2 BTC 69,000: calls 49.7, puts 71.0 BTC 69,250: calls 35.9, puts 24.6 BTC 69,500: calls 71.6, puts 38.2 BTC 69,750: calls 47.1, puts 15.7 BTC 70,000: calls 140.2, puts 151.1 BTC 70,250: calls 52.5, puts 4.9 BTC 70,500: calls 56.6, puts 14.5 BTC 70,750: calls 79.3, puts 8.3 BTC 71,000: calls 436.4, puts -19.4 BTC 71,250: calls 95.1, puts 9.1 BTC 71,500: calls 245.5, puts -14.1 BTC 71,750: calls 36.5, puts 3.2 BTC 72,000: calls 623.3, puts 3.7 BTC 72,250: calls 17.9, puts 2.4 BTC 72,500: calls 125.3, puts -4.4 BTC 72,750: calls 28.1, puts -0.0 BTC 73,000: calls 107.8, puts -3.3 BTC 73,250: calls 35.2, puts -0.9 BTC 73,500: calls 88.1, puts -1.1 BTC 73,750: calls 39.9, puts -0.0 BTC 74,000: calls 42.9, puts -0.8 BTC 74,250: calls 33.1, puts -0.2 BTC 74,750: calls 21.9, puts -0.0 BTC 75,000: calls 22.3, puts 0.0 BTC 75,250: calls 23.6, puts 0.0 BTC 75,750: calls 26.1, puts 0.0 BTC 76,000: calls 123.7, puts 2.0 BTC 76,500: calls 9.3, puts 0.0 BTC 77,000: calls 48.3, puts 0.0 BTC 78,000: calls 38.3, puts 0.0 BTC 79,000: calls 39.4, puts 0.0 BTC 80,000: calls 0.7, puts 2.0 BTC

Axis in BTC (change in open interest). Increases: calls up, puts down; decreases reverse direction. Faded segments are puts. This is a change in positions, not traded flow.

Compared with snapshots: Bybit 2026-11-12 14:00 UTC; Binance 2026-11-12 14:00 UTC

Open interest change by strike table
Strike (USD)Call change (BTC)Put change (BTC)
64,0000.01113.77
65,000099.78
66,0001.29245.11
67,00016.33129.94
67,5000.5465.85
68,00015.73135.78
68,25023.1726.12
68,50038.3456.35
68,75019.5119.24
69,00049.7371.05
69,25035.9024.62
69,50071.5838.19
69,75047.0815.70
70,000140.24151.09
70,25052.484.94
70,50056.5614.50
70,75079.298.33
71,000436.40-19.37
71,25095.139.10
71,500245.54-14.06
71,75036.533.22
72,000623.323.70
72,25017.922.40
72,500125.35-4.36
72,75028.10-0.02
73,000107.81-3.33
73,25035.22-0.86
73,50088.07-1.13
73,75039.94-0.01
74,00042.91-0.84
74,25033.10-0.19
74,75021.94-0.01
75,00022.270.00
75,25023.630
75,75026.130
76,000123.731.99
76,5009.340
77,00048.320
78,00038.320.01
79,00039.400
80,0000.702

Open interest by expiry

USD notional · calls above the line, puts below
  • Calls
  • Puts
$400M $200M $0 $200M $400M $600M Sat 14 Nov 2026: calls $239.69M, puts $121.34M14 Nov Sun 15 Nov 2026: calls $98.87M, puts $47.74M Mon 16 Nov 2026: calls $48.26M, puts $22.31M16 Nov Fri 20 Nov 2026: calls $179.56M, puts $138.13M Fri 27 Nov 2026: calls $424.33M, puts $394.44M27 Nov Fri 4 Dec 2026: calls $23.69M, puts $22.27M Fri 25 Dec 2026: calls $377.52M, puts $347.79M25 Dec Fri 29 Jan 2027: calls $59.20M, puts $43.82M Fri 26 Mar 2027: calls $83.63M, puts $86.75M26 Mar Fri 25 Jun 2027: calls $15.91M, puts $14.77M Fri 24 Sep 2027: calls $4.92M, puts $3.76M24 Sep

24h volume by expiry

USD notional traded · calls above the line, puts below
  • Calls
  • Puts
$400M $200M $0 $200M $400M $600M Sat 14 Nov 2026: calls $407.54M, puts $289.49M14 Nov Sun 15 Nov 2026: calls $170.68M, puts $133.32M Mon 16 Nov 2026: calls $62.12M, puts $26.27M16 Nov Fri 20 Nov 2026: calls $149.20M, puts $117.73M Fri 27 Nov 2026: calls $121.09M, puts $134.69M27 Nov Fri 4 Dec 2026: calls $25.94M, puts $35.23M Fri 25 Dec 2026: calls $77.61M, puts $94.77M25 Dec Fri 29 Jan 2027: calls $27.61M, puts $28.32M Fri 26 Mar 2027: calls $13.51M, puts $16.73M26 Mar Fri 25 Jun 2027: calls $1.76M, puts $962K Fri 24 Sep 2027: calls $525K, puts $1.53M24 Sep
24h volume by expiry table
ExpiryCalls (USD)Puts (USD)Total (USD)
Sat 14 Nov 2026$407.54M$289.49M$697.03M
Sun 15 Nov 2026$170.68M$133.32M$304.00M
Mon 16 Nov 2026$62.12M$26.27M$88.39M
Fri 20 Nov 2026$149.20M$117.73M$266.93M
Fri 27 Nov 2026$121.09M$134.69M$255.78M
Fri 4 Dec 2026$25.94M$35.23M$61.17M
Fri 25 Dec 2026$77.61M$94.77M$172.38M
Fri 29 Jan 2027$27.61M$28.32M$55.93M
Fri 26 Mar 2027$13.51M$16.73M$30.24M
Fri 25 Jun 2027$1.76M$962K$2.72M
Fri 24 Sep 2027$525K$1.53M$2.06M

Each instrument's rolling 24h volume in BTC times its forward price. Includes recorded volume when open interest is incomplete; missing forward prices are unavailable, not zero.

BTC options open interest history

USD notional, all expiries · end of each UTC day · stacked by exchange · last 90 days
  • Bybit
  • Binance
$0 $1B $2B $3B $4B 29 Sep 7 Oct 15 Oct 23 Oct 31 Oct 8 Nov Tue 29 Sep 2026: $2.98B (Bybit $1.48B, Binance $1.49B) Wed 30 Sep 2026: $3.08B (Bybit $1.52B, Binance $1.57B) Thu 1 Oct 2026: $3.21B (Bybit $1.58B, Binance $1.63B) Fri 2 Oct 2026: $3.07B (Bybit $1.55B, Binance $1.53B) Sat 3 Oct 2026: $2.89B (Bybit $1.44B, Binance $1.45B) Sun 4 Oct 2026: $2.94B (Bybit $1.44B, Binance $1.50B) Mon 5 Oct 2026: $3.11B (Bybit $1.56B, Binance $1.55B) Tue 6 Oct 2026: $3.17B (Bybit $1.62B, Binance $1.56B) Wed 7 Oct 2026: $3.25B (Bybit $1.65B, Binance $1.60B) Fri 9 Oct 2026: $3.45B (Bybit $1.77B, Binance $1.68B) Sat 10 Oct 2026: $3.31B (Bybit $1.70B, Binance $1.61B) Sun 11 Oct 2026: $3.27B (Bybit $1.62B, Binance $1.65B) Mon 12 Oct 2026: $3.30B (Bybit $1.62B, Binance $1.68B) Tue 13 Oct 2026: $3.52B (Bybit $1.71B, Binance $1.81B) Wed 14 Oct 2026: $3.60B (Bybit $1.76B, Binance $1.84B) Thu 15 Oct 2026: $3.77B (Bybit $1.80B, Binance $1.96B) Fri 16 Oct 2026: $3.60B (Bybit $1.77B, Binance $1.83B) Sat 17 Oct 2026: $3.31B (Bybit $1.67B, Binance $1.63B) Sun 18 Oct 2026: $3.39B (Bybit $1.67B, Binance $1.72B) Mon 19 Oct 2026: $3.53B (Bybit $1.70B, Binance $1.83B) Tue 20 Oct 2026: $3.62B (Bybit $1.77B, Binance $1.85B) Wed 21 Oct 2026: $3.76B (Bybit $1.85B, Binance $1.91B) Thu 22 Oct 2026: $3.73B (Bybit $1.84B, Binance $1.90B) Fri 23 Oct 2026: $3.56B (Bybit $1.76B, Binance $1.80B) Sat 24 Oct 2026: $3.51B (Bybit $1.79B, Binance $1.72B) Sun 25 Oct 2026: $3.42B (Bybit $1.76B, Binance $1.66B) Mon 26 Oct 2026: $3.51B (Bybit $1.76B, Binance $1.74B) Tue 27 Oct 2026: $3.67B (Bybit $1.85B, Binance $1.82B) Wed 28 Oct 2026: $3.66B (Bybit $1.82B, Binance $1.84B) Thu 29 Oct 2026: $3.98B (Bybit $2.00B, Binance $1.98B) Fri 30 Oct 2026: $2.81B (Bybit $1.54B, Binance $1.27B) Sat 31 Oct 2026: $2.58B (Bybit $1.36B, Binance $1.23B) Sun 1 Nov 2026: $2.54B (Bybit $1.33B, Binance $1.22B) Mon 2 Nov 2026: $2.88B (Bybit $1.44B, Binance $1.44B) Tue 3 Nov 2026: $2.87B (Bybit $1.47B, Binance $1.40B) Wed 4 Nov 2026: $3.32B (Bybit $1.68B, Binance $1.65B) Thu 5 Nov 2026: $3.43B (Bybit $1.66B, Binance $1.77B) Fri 6 Nov 2026: $3.02B (Bybit $1.43B, Binance $1.58B) Sat 7 Nov 2026: $2.79B (Bybit $1.30B, Binance $1.48B) Sun 8 Nov 2026: $2.73B (Bybit $1.30B, Binance $1.42B) Mon 9 Nov 2026: $3.09B (Bybit $1.45B, Binance $1.64B) Tue 10 Nov 2026: $3.09B (Bybit $1.44B, Binance $1.65B) Wed 11 Nov 2026: $3.06B (Bybit $1.43B, Binance $1.63B) Thu 12 Nov 2026: $3.02B (Bybit $1.46B, Binance $1.56B) Fri 13 Nov 2026: $2.79B (Bybit $1.32B, Binance $1.46B)

1 of 46 days is left blank: an exchange's open interest was missing or incomplete that day, so the total would be understated.

BTC options open interest by exchange table
Day (UTC)BybitBinanceTotal
2026-11-13$1.32B$1.46B$2.79B
2026-11-12$1.46B$1.56B$3.02B
2026-11-11$1.43B$1.63B$3.06B
2026-11-10$1.44B$1.65B$3.09B
2026-11-09$1.45B$1.64B$3.09B
2026-11-08$1.30B$1.42B$2.73B
2026-11-07$1.30B$1.48B$2.79B
2026-11-06$1.43B$1.58B$3.02B
2026-11-05$1.66B$1.77B$3.43B
2026-11-04$1.68B$1.65B$3.32B
2026-11-03$1.47B$1.40B$2.87B
2026-11-02$1.44B$1.44B$2.88B
2026-11-01$1.33B$1.22B$2.54B
2026-10-31$1.36B$1.23B$2.58B
2026-10-30$1.54B$1.27B$2.81B
2026-10-29$2.00B$1.98B$3.98B
2026-10-28$1.82B$1.84B$3.66B
2026-10-27$1.85B$1.82B$3.67B
2026-10-26$1.76B$1.74B$3.51B
2026-10-25$1.76B$1.66B$3.42B
2026-10-24$1.79B$1.72B$3.51B
2026-10-23$1.76B$1.80B$3.56B
2026-10-22$1.84B$1.90B$3.73B
2026-10-21$1.85B$1.91B$3.76B
2026-10-20$1.77B$1.85B$3.62B
2026-10-19$1.70B$1.83B$3.53B
2026-10-18$1.67B$1.72B$3.39B
2026-10-17$1.67B$1.63B$3.31B
2026-10-16$1.77B$1.83B$3.60B
2026-10-15$1.80B$1.96B$3.77B
2026-10-14$1.76B$1.84B$3.60B
2026-10-13$1.71B$1.81B$3.52B
2026-10-12$1.62B$1.68B$3.30B
2026-10-11$1.62B$1.65B$3.27B
2026-10-10$1.70B$1.61B$3.31B
2026-10-09$1.77B$1.68B$3.45B
2026-10-08———
2026-10-07$1.65B$1.60B$3.25B
2026-10-06$1.62B$1.56B$3.17B
2026-10-05$1.56B$1.55B$3.11B
2026-10-04$1.44B$1.50B$2.94B
2026-10-03$1.44B$1.45B$2.89B
2026-10-02$1.55B$1.53B$3.07B
2026-10-01$1.58B$1.63B$3.21B
2026-09-30$1.52B$1.57B$3.08B
2026-09-29$1.48B$1.49B$2.98B

Each day is the last hourly snapshot of the UTC day (left blank when that snapshot was partial); notional is open interest in BTC times the index price.

BTC options volume history

USD, 24h to 08:00 UTC each day · stacked by exchange · last 90 days
  • Bybit
  • Binance
$0 $1B $2B $3B $4B 29 Sep 7 Oct 15 Oct 23 Oct 31 Oct 8 Nov Tue 29 Sep 2026: $977.45M (Bybit $582.63M, Binance $394.82M) Wed 30 Sep 2026: $1.84B (Bybit $1.02B, Binance $824.80M) Thu 1 Oct 2026: $2.38B (Bybit $1.41B, Binance $976.16M) Fri 2 Oct 2026: $2.67B (Bybit $1.57B, Binance $1.10B) Sat 3 Oct 2026: $2.52B (Bybit $1.46B, Binance $1.06B) Sun 4 Oct 2026: $986.88M (Bybit $563.27M, Binance $423.61M) Mon 5 Oct 2026: $1.88B (Bybit $1.07B, Binance $809.94M) Tue 6 Oct 2026: $2.16B (Bybit $1.03B, Binance $1.14B) Wed 7 Oct 2026: $2.27B (Bybit $1.34B, Binance $929.41M) Fri 9 Oct 2026: $2.78B (Bybit $1.55B, Binance $1.23B) Sat 10 Oct 2026: $2.04B (Bybit $1.18B, Binance $859.43M) Sun 11 Oct 2026: $914.12M (Bybit $484.57M, Binance $429.55M) Mon 12 Oct 2026: $1.52B (Bybit $852.66M, Binance $663.87M) Tue 13 Oct 2026: $2.56B (Bybit $1.33B, Binance $1.23B) Wed 14 Oct 2026: $1.97B (Bybit $881.26M, Binance $1.09B) Thu 15 Oct 2026: $2.80B (Bybit $1.51B, Binance $1.29B) Fri 16 Oct 2026: $2.54B (Bybit $1.14B, Binance $1.40B) Sat 17 Oct 2026: $2.18B (Bybit $1.22B, Binance $964.53M) Sun 18 Oct 2026: $1.07B (Bybit $698.31M, Binance $368.63M) Mon 19 Oct 2026: $1.84B (Bybit $1.04B, Binance $794.45M) Tue 20 Oct 2026: $2.00B (Bybit $1.12B, Binance $880.01M) Wed 21 Oct 2026: $2.08B (Bybit $1.20B, Binance $874.76M) Thu 22 Oct 2026: $2.58B (Bybit $1.56B, Binance $1.02B) Fri 23 Oct 2026: $2.04B (Bybit $1.02B, Binance $1.02B) Sat 24 Oct 2026: $1.74B (Bybit $1.07B, Binance $665.91M) Sun 25 Oct 2026: $1.62B (Bybit $997.21M, Binance $622.98M) Mon 26 Oct 2026: $1.53B (Bybit $897.51M, Binance $632.17M) Tue 27 Oct 2026: $1.54B (Bybit $868.59M, Binance $675.15M) Wed 28 Oct 2026: $1.78B (Bybit $955.28M, Binance $825.81M) Thu 29 Oct 2026: $1.88B (Bybit $1.06B, Binance $821.88M) Fri 30 Oct 2026: $3.84B (Bybit $2.20B, Binance $1.64B) Sat 31 Oct 2026: $2.26B (Bybit $1.37B, Binance $898.52M) Sun 1 Nov 2026: $1.04B (Bybit $607.55M, Binance $427.57M) Mon 2 Nov 2026: $1.09B (Bybit $649.98M, Binance $435.37M) Tue 3 Nov 2026: $1.92B (Bybit $1.10B, Binance $820.99M) Wed 4 Nov 2026: $2.07B (Bybit $1.07B, Binance $993.68M) Thu 5 Nov 2026: $2.54B (Bybit $1.36B, Binance $1.18B) Fri 6 Nov 2026: $3.15B (Bybit $1.71B, Binance $1.44B) Sat 7 Nov 2026: $1.88B (Bybit $1.04B, Binance $841.38M) Sun 8 Nov 2026: $730.92M (Bybit $451.18M, Binance $279.74M) Mon 9 Nov 2026: $1.57B (Bybit $916.46M, Binance $654.25M) Tue 10 Nov 2026: $1.96B (Bybit $1.11B, Binance $852.07M) Wed 11 Nov 2026: $2.18B (Bybit $1.23B, Binance $956.42M) Thu 12 Nov 2026: $1.80B (Bybit $852.33M, Binance $949.13M) Fri 13 Nov 2026: $2.89B (Bybit $1.43B, Binance $1.47B)

1 of 46 days is left blank: an exchange's volume was missing or incomplete that day, so the total would be understated.

BTC options volume by exchange table
Day (UTC)BybitBinanceTotal
2026-11-13$1.43B$1.47B$2.89B
2026-11-12$852.33M$949.13M$1.80B
2026-11-11$1.23B$956.42M$2.18B
2026-11-10$1.11B$852.07M$1.96B
2026-11-09$916.46M$654.25M$1.57B
2026-11-08$451.18M$279.74M$730.92M
2026-11-07$1.04B$841.38M$1.88B
2026-11-06$1.71B$1.44B$3.15B
2026-11-05$1.36B$1.18B$2.54B
2026-11-04$1.07B$993.68M$2.07B
2026-11-03$1.10B$820.99M$1.92B
2026-11-02$649.98M$435.37M$1.09B
2026-11-01$607.55M$427.57M$1.04B
2026-10-31$1.37B$898.52M$2.26B
2026-10-30$2.20B$1.64B$3.84B
2026-10-29$1.06B$821.88M$1.88B
2026-10-28$955.28M$825.81M$1.78B
2026-10-27$868.59M$675.15M$1.54B
2026-10-26$897.51M$632.17M$1.53B
2026-10-25$997.21M$622.98M$1.62B
2026-10-24$1.07B$665.91M$1.74B
2026-10-23$1.02B$1.02B$2.04B
2026-10-22$1.56B$1.02B$2.58B
2026-10-21$1.20B$874.76M$2.08B
2026-10-20$1.12B$880.01M$2.00B
2026-10-19$1.04B$794.45M$1.84B
2026-10-18$698.31M$368.63M$1.07B
2026-10-17$1.22B$964.53M$2.18B
2026-10-16$1.14B$1.40B$2.54B
2026-10-15$1.51B$1.29B$2.80B
2026-10-14$881.26M$1.09B$1.97B
2026-10-13$1.33B$1.23B$2.56B
2026-10-12$852.66M$663.87M$1.52B
2026-10-11$484.57M$429.55M$914.12M
2026-10-10$1.18B$859.43M$2.04B
2026-10-09$1.55B$1.23B$2.78B
2026-10-08———
2026-10-07$1.34B$929.41M$2.27B
2026-10-06$1.03B$1.14B$2.16B
2026-10-05$1.07B$809.94M$1.88B
2026-10-04$563.27M$423.61M$986.88M
2026-10-03$1.46B$1.06B$2.52B
2026-10-02$1.57B$1.10B$2.67B
2026-10-01$1.41B$976.16M$2.38B
2026-09-30$1.02B$824.80M$1.84B
2026-09-29$582.63M$394.82M$977.45M

Each instrument's 24h volume in BTC times its forward price, from the scheduled pre-expiry daily sample taken between 07:50 and 08:00 UTC (exact capture times of earlier days were not kept); a day whose sample was missed, or with any instrument missing either value, is left blank.

BTC options expiry calendar

notional expiring per date, 08:00 UTC

Put/call ratio and max pain by expiry

Bybit + Binance
ExpiryNotionalMax painP/C OIVolume 24hP/C vol
Sat 14 Nov daily$361.03M$70,0000.51$697.03M0.71
Sun 15 Nov daily$146.61M$70,0000.48$304.00M0.78
Mon 16 Nov daily$70.57M$69,5000.46$88.39M0.42
Fri 20 Nov weekly$317.68M$74,0000.77$266.93M0.79
Fri 27 Nov monthly$818.78M$78,0000.93$255.78M1.11
Fri 4 Dec weekly$45.96M$70,0000.94$61.17M1.36
Fri 25 Dec quarterly$725.31M$80,0000.92$172.38M1.22
Fri 29 Jan 2027 monthly$103.02M$78,0000.74$55.93M1.03
Fri 26 Mar 2027 quarterly$170.37M$70,0001.04$30.24M1.24
Fri 25 Jun 2027 quarterly$30.68M$74,0000.93$2.72M0.55
Fri 24 Sep 2027 quarterly$8.68M$75,0000.76$2.06M2.92

Max pain history, Sat 14 Nov expiry

hourly, last 30 days
  • Max pain 70,000
68,000 70,000 72,000 74,000 76,000 12 Nov 13 Nov

Put/call OI history, Sat 14 Nov expiry

hourly, last 30 days · dashed line = 1.0
  • Put/call OI 0.48
0.25 0.50 0.75 1.00 1.25 1.50 12 Nov 13 Nov
Put/call OI history table
Time (UTC)P/C OI
2026-11-11 09:001.27
2026-11-11 10:001.17
2026-11-11 11:001.17
2026-11-11 12:001.01
2026-11-11 13:001.17
2026-11-11 14:001.26
2026-11-11 15:000.75
2026-11-11 16:000.68
2026-11-11 17:000.75
2026-11-11 18:000.75
2026-11-11 19:000.89
2026-11-11 20:000.84
2026-11-11 21:000.82
2026-11-11 22:000.90
2026-11-11 23:000.90
2026-11-12 00:000.98
2026-11-12 01:001.00
2026-11-12 02:001.06
2026-11-12 03:001.13
2026-11-12 04:001.10
2026-11-12 05:001.07
2026-11-12 06:001.06
2026-11-12 07:001.11
2026-11-12 08:001.08
2026-11-12 09:001.14
2026-11-12 10:001.10
2026-11-12 11:001.09
2026-11-12 12:001.07
2026-11-12 13:001.12
2026-11-12 14:001.10
2026-11-12 15:000.95
2026-11-12 16:000.82
2026-11-12 17:000.80
2026-11-12 18:000.96
2026-11-12 19:001.00
2026-11-12 20:001.02
2026-11-12 21:001.06
2026-11-12 22:001.07
2026-11-12 23:001.05
2026-11-13 00:001.11
2026-11-13 01:001.09
2026-11-13 02:001.11
2026-11-13 03:001.05
2026-11-13 04:000.85
2026-11-13 05:000.81
2026-11-13 06:000.74
2026-11-13 07:000.67
2026-11-13 08:000.67
2026-11-13 09:000.55
2026-11-13 10:000.55
2026-11-13 11:000.54
2026-11-13 12:000.56
2026-11-13 13:000.49
2026-11-13 14:000.48

Put/call ratio history

all expiries, hourly, last 30 days · dashed line = 1.0
  • Put/call OI 0.80
  • Put/call 24h volume 0.83
0.50 0.75 1.00 1.25 1.50 1.75 19 Oct 24 Oct 29 Oct 3 Nov 8 Nov 13 Nov

All expiries. Across all 11 listed expiries there is $2.80B of open interest, with a put/call ratio of 0.80 (more calls than puts open); the 24h volume put/call ratio is 0.83.

How to read it. Max pain is the strike where the open calls and puts of one expiry would be worth the least at settlement; it describes where open interest sits and is not a price prediction. The put/call ratio divides put open interest by call open interest, or put 24h volume by call 24h volume. Above 1 puts exceed calls in that measure. Notional is open interest in BTC times the index price. Snapshots every 5 minutes from each exchange's public API; history is hourly. Not financial advice.

Bitcoin options FAQ

What is max pain?

Max pain is the settlement price at which the options open for an expiry would pay out the least to their holders in total. It is a snapshot of where open interest sits, not a price prediction: spot often settles far from it. For each listed strike we add up what every open call and put would be worth at expiry if the price settled there; the strike with the smallest total is max pain.

What is the put/call ratio?

Put open interest divided by call open interest (or put volume divided by call volume over 24 hours). Above 1 more puts are open than calls, which often means hedging or bearish positioning; below 1 calls dominate. It is a positioning gauge, not a signal on its own.

When do Bitcoin options expire?

Bitcoin options on Bybit and Binance expire at 08:00 UTC. Daily options expire every day, weeklies on Fridays, monthlies on the last Friday of the month and quarterlies on the last Friday of March, June, September and December, which is when the most open interest usually expires. The next daily expiry is Sat 14 Nov 2026 08:00 UTC ($361.03M open interest); the next weekly expiry is Fri 20 Nov 2026 08:00 UTC ($317.68M open interest); the next monthly expiry is Fri 27 Nov 2026 08:00 UTC ($818.78M open interest); the next quarterly expiry is Fri 25 Dec 2026 08:00 UTC ($725.31M open interest).

Why can this max pain differ from other sites?

This page covers Bybit and Binance only. Deribit, the largest crypto options exchange, is not included, so the open interest here is part of the market and its max pain can sit at a different strike.