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Bitcoin (BTC) options max pain and open interest

BTC expiry 15 Nov 2026 08:00 UTC: max pain is $70,000; expiring notional $147.91M; selected-expiry P/C OI 0.49. 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 Sun 15 Nov 2026, 08:00 UTC

daily · in 1d 17h
Max pain Bybit + Binance
$70,000
0.8% above spotindex $69,425.6
Max pain by exchange
Bybit $70,000Binance $70,000
Notional expiring
$147.91M
calls 1,432.8 BTCputs 698.0 BTC
Put/call ratio
0.49
open interest24h volume 0.79

Next expiry (daily) in 17h 27m. Sat 14 Nov, 08:00 UTC · notional $365.52M · max pain $70,000 · put/call (OI) 0.51.

Since 24h ago: max pain 73,000 → 70,000, put/call OI 0.81 → 0.49, notional $27.66M → $147.91M.

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

Max pain curve, Sun 15 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 $2.5M $5M $7.5M $10M $12.5M 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 Sun 15 Nov expiry: total option-holder payout by settlement strike
Strike (USD)Payout to holders (USD)
63,0003,422,653
64,0002,759,223
65,0002,141,453
66,0001,573,943
66,5001,325,313
67,0001,080,098
67,500877,908
68,000686,253
68,250609,605
68,500534,160
68,750470,430
69,000407,215
69,250368,543
69,500333,545
69,750319,455
70,000 (max pain)305,393
70,500333,218
70,750384,795
71,000437,260
71,250566,190
71,500698,820
71,750848,150
72,000999,700
72,2501,174,715
72,5001,353,430
73,0001,721,295
73,2501,933,815
73,5002,151,335
73,7502,385,048
74,0002,623,828
74,2502,885,225
74,5003,150,418
74,7503,424,988
75,0003,706,928
75,2503,994,405
75,7504,579,750
76,0004,875,253
76,2505,176,048
76,5005,480,465
77,0006,099,410
77,5006,738,615
78,0007,384,630
79,0008,767,370
80,00010,157,060
81,00011,559,230

Open interest by strike, Sun 15 Nov

BTC · calls above the line, puts below · stacked by exchange
  • Bybit
  • Binance
  • Max pain
  • Index price
100 0 100 200 300 63K 67.5K 69.2K 71K 72.5K 74.2K 76K 79K 63,000: calls 0.0, puts 34.6 BTC 64,000: calls 0.1, puts 45.5 BTC 65,000: calls 0.0, puts 50.3 BTC 66,000: calls 0.0, puts 70.2 BTC 66,500: calls 0.4, puts 6.4 BTC 67,000: calls 2.8, puts 83.3 BTC 67,500: calls 0.8, puts 20.2 BTC 68,000: calls 3.4, puts 73.4 BTC 68,250: calls 0.0, puts 4.8 BTC 68,500: calls 7.5, puts 39.3 BTC 68,750: calls 0.2, puts 1.9 BTC 69,000: calls 20.7, puts 77.5 BTC 69,250: calls 3.8, puts 10.9 BTC 69,500: calls 48.6, puts 35.0 BTC 69,750: calls 0.1, puts 0.0 BTC 70,000: calls 79.3, puts 32.6 BTC 70,500: calls 147.5, puts 3.1 BTC 70,750: calls 3.5, puts 0.1 BTC 71,000: calls 284.5, puts 21.3 BTC 71,250: calls 14.8, puts 0.0 BTC 71,500: calls 44.7, puts 22.1 BTC 71,750: calls 8.9, puts 0.0 BTC 72,000: calls 63.5, puts 30.4 BTC 72,250: calls 14.8, puts 0.0 BTC 72,500: calls 15.7, puts 5.2 BTC 73,000: calls 98.7, puts 15.6 BTC 73,250: calls 14.1, puts 6.0 BTC 73,500: calls 60.1, puts 4.7 BTC 73,750: calls 19.5, puts 0.7 BTC 74,000: calls 88.9, puts 1.6 BTC 74,250: calls 14.2, puts 1.0 BTC 74,500: calls 37.5, puts 0.0 BTC 74,750: calls 29.5, puts 0.0 BTC 75,000: calls 21.9, puts 0.2 BTC 75,250: calls 20.8, puts 0.0 BTC 75,750: calls 11.3, puts 0.0 BTC 76,000: calls 21.2, puts 0.0 BTC 76,250: calls 14.5, puts 0.0 BTC 76,500: calls 20.2, puts 0.0 BTC 77,000: calls 40.5, puts 0.0 BTC 77,500: calls 13.6, puts 0.0 BTC 78,000: calls 90.7, puts 0.0 BTC 79,000: calls 7.0, puts 0.0 BTC 80,000: calls 12.5, puts 0.0 BTC 81,000: calls 30.6, puts 0.0 BTC

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

Chart and table show 45 of 45 source strikes, $63,000–$81,000. Select strikes within ±50% of the index price, then the 60 closest if capped. 45 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, Sun 15 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 Sun 15 Nov 2026 expiry, 08:00 UTC
Strike (USD)Calls (BTC)Puts (BTC)
63,000034.5600
64,0000.120045.5400
65,000050.2600
66,0000.030070.2200
66,5000.40006.4300
67,0002.750083.3000
67,5000.840020.2300
68,0003.350073.3700
68,25004.8100
68,5007.520039.3400
68,7500.17001.8900
69,00020.700077.4700
69,2503.810010.8900
69,50048.580035.0500
69,7500.11000
70,000 (max pain)79.270032.6300
70,500147.53003.1300
70,7503.49000.0600
71,000284.520021.3400
71,25014.79000.0100
71,50044.660022.1400
71,7508.87000.0100
72,00063.490030.3700
72,25014.80000
72,50015.68005.1900
73,00098.700015.6500
73,25014.05005.9500
73,50060.10004.6700
73,75019.54000.7300
74,00088.91001.5600
74,25014.21000.9700
74,50037.51000
74,75029.47000.0100
75,00021.94000.2100
75,25020.78000
75,75011.32000
76,00021.17000
76,25014.49000
76,50020.22000
77,00040.52000
77,50013.62000
78,00090.71000
79,0006.95000
80,00012.48000
81,00030.64000

24h volume by strike, Sun 15 Nov

BTC · calls above the line, puts below · stacked by exchange
  • Bybit
  • Binance
  • Max pain
  • Index price
600 400 200 0 200 400 63K 67.5K 69.2K 71K 72.5K 74.2K 76K 79K 63,000: calls 0.0, puts 48.7 BTC 64,000: calls 0.3, puts 146.8 BTC 65,000: calls 0.0, puts 79.2 BTC 66,000: calls 0.1, puts 135.1 BTC 66,500: calls 0.4, puts 11.3 BTC 67,000: calls 3.2, puts 197.9 BTC 67,500: calls 2.2, puts 37.9 BTC 68,000: calls 8.3, puts 556.4 BTC 68,250: calls 0.0, puts 4.8 BTC 68,500: calls 13.3, puts 96.6 BTC 68,750: calls 0.6, puts 4.9 BTC 69,000: calls 48.7, puts 286.7 BTC 69,250: calls 9.4, puts 14.4 BTC 69,500: calls 81.9, puts 96.2 BTC 69,750: calls 0.2, puts 0.0 BTC 70,000: calls 199.1, puts 119.5 BTC 70,500: calls 213.0, puts 9.6 BTC 70,750: calls 8.4, puts 0.2 BTC 71,000: calls 344.9, puts 30.4 BTC 71,250: calls 22.9, puts 0.0 BTC 71,500: calls 109.9, puts 25.9 BTC 71,750: calls 10.1, puts 0.5 BTC 72,000: calls 134.0, puts 23.6 BTC 72,250: calls 18.6, puts 0.0 BTC 72,500: calls 47.8, puts 3.6 BTC 73,000: calls 165.2, puts 10.2 BTC 73,250: calls 27.8, puts 0.1 BTC 73,500: calls 114.3, puts 3.5 BTC 73,750: calls 46.4, puts 0.2 BTC 74,000: calls 274.3, puts 2.1 BTC 74,250: calls 19.6, puts 0.0 BTC 74,500: calls 50.9, puts 0.0 BTC 74,750: calls 29.5, puts 0.0 BTC 75,000: calls 48.8, puts 0.2 BTC 75,250: calls 30.9, puts 0.0 BTC 75,750: calls 9.3, puts 0.0 BTC 76,000: calls 72.5, puts 0.0 BTC 76,250: calls 31.2, puts 0.0 BTC 76,500: calls 22.5, puts 0.0 BTC 77,000: calls 73.5, puts 0.0 BTC 77,500: calls 12.9, puts 0.0 BTC 78,000: calls 119.5, puts 0.0 BTC 79,000: calls 6.3, puts 0.0 BTC 80,000: calls 10.1, puts 0.0 BTC 81,000: calls 30.6, puts 0.0 BTC

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

Chart and table show 45 of 45 source strikes, $63,000–$81,000. Select strikes within ±50% of the index price, then the 60 closest if capped. 45 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)
63,000048.74
64,0000.28146.81
65,000079.18
66,0000.06135.11
66,5000.4011.26
67,0003.21197.85
67,5002.1837.93
68,0008.26556.44
68,25004.82
68,50013.2696.56
68,7500.584.92
69,00048.74286.66
69,2509.4214.43
69,50081.9296.23
69,7500.210
70,000199.06119.51
70,500212.969.61
70,7508.400.22
71,000344.8930.38
71,25022.950.01
71,500109.9425.94
71,75010.060.51
72,00013423.57
72,25018.580
72,50047.803.60
73,000165.2110.23
73,25027.820.08
73,500114.263.46
73,75046.410.18
74,000274.302.15
74,25019.610
74,50050.940
74,75029.510.01
75,00048.820.21
75,25030.900.02
75,7509.320
76,00072.540
76,25031.250
76,50022.520
77,00073.530
77,50012.860
78,000119.480
79,0006.260
80,00010.080
81,00030.640

Open interest change by strike, Sun 15 Nov

BTC · 24h change · calls signed, puts mirrored · stacked by exchange · How to read open interest changes
  • Bybit
  • Binance
  • Index price
100 0 100 200 300 63K 67.5K 69.2K 71K 72.5K 74.2K 76K 79K 63,000: calls 0.0, puts 34.6 BTC 64,000: calls 0.1, puts 45.5 BTC 65,000: calls 0.0, puts 50.3 BTC 66,000: calls 0.0, puts 70.2 BTC 66,500: calls 0.4, puts 6.4 BTC 67,000: calls 2.8, puts 78.9 BTC 67,500: calls 0.8, puts 20.2 BTC 68,000: calls 3.4, puts 64.5 BTC 68,250: calls 0.0, puts 4.8 BTC 68,500: calls 7.5, puts 39.3 BTC 68,750: calls 0.2, puts 1.9 BTC 69,000: calls 20.7, puts 51.2 BTC 69,250: calls 3.8, puts 10.9 BTC 69,500: calls 48.6, puts 35.0 BTC 69,750: calls 0.1, puts 0.0 BTC 70,000: calls 79.3, puts 14.9 BTC 70,500: calls 147.5, puts 3.1 BTC 70,750: calls 3.5, puts 0.1 BTC 71,000: calls 284.0, puts -1.2 BTC 71,250: calls 14.8, puts 0.0 BTC 71,500: calls 44.6, puts 18.9 BTC 71,750: calls 8.9, puts 0.0 BTC 72,000: calls 62.3, puts 5.8 BTC 72,250: calls 14.8, puts 0.0 BTC 72,500: calls 14.2, puts -0.3 BTC 73,000: calls 90.5, puts 0.2 BTC 73,250: calls 13.6, puts 0.0 BTC 73,500: calls 54.4, puts 0.2 BTC 73,750: calls 18.8, puts 0.0 BTC 74,000: calls 71.0, puts 0.0 BTC 74,250: calls 13.3, puts 0.0 BTC 74,500: calls 34.6, puts 0.0 BTC 74,750: calls 27.6, puts 0.0 BTC 75,000: calls 17.4, puts 0.0 BTC 75,250: calls 19.1, puts 0.0 BTC 75,750: calls 5.9, puts 0.0 BTC 76,000: calls -2.7, puts 0.0 BTC 76,250: calls 6.9, puts 0.0 BTC 76,500: calls 4.6, puts 0.0 BTC 77,000: calls 22.2, puts 0.0 BTC 77,500: calls 8.5, puts 0.0 BTC 78,000: calls 80.2, puts 0.0 BTC 79,000: calls 4.8, puts 0.0 BTC 80,000: calls 9.3, puts 0.0 BTC 81,000: calls 30.6, puts 0.0 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)
63,000034.56
64,0000.1245.54
65,000050.26
66,0000.0370.22
66,5000.406.43
67,0002.7578.91
67,5000.8420.23
68,0003.3564.46
68,25004.81
68,5007.5239.34
68,7500.171.89
69,00020.7051.18
69,2503.8110.89
69,50048.5835.05
69,7500.110
70,00079.2714.90
70,500147.533.13
70,7503.490.06
71,000284-1.21
71,25014.790.01
71,50044.6018.88
71,7508.870.01
72,00062.335.75
72,25014.800
72,50014.23-0.27
73,00090.550.20
73,25013.640
73,50054.360.24
73,75018.790
74,00071.020.03
74,25013.310
74,50034.560
74,75027.620
75,00017.360
75,25019.060
75,7505.920
76,000-2.670
76,2506.920
76,5004.630
77,00022.180
77,5008.510
78,00080.150
79,0004.760
80,0009.320
81,00030.630

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 $242.55M, puts $122.98M14 Nov Sun 15 Nov 2026: calls $99.45M, puts $48.46M Mon 16 Nov 2026: calls $48.84M, puts $25.04M16 Nov Fri 20 Nov 2026: calls $180.65M, puts $138.61M Fri 27 Nov 2026: calls $425.36M, puts $395.57M27 Nov Fri 4 Dec 2026: calls $24.31M, puts $21.94M Fri 25 Dec 2026: calls $378.45M, puts $348.74M25 Dec Fri 29 Jan 2027: calls $59.86M, puts $43.88M Fri 26 Mar 2027: calls $83.73M, puts $86.94M26 Mar Fri 25 Jun 2027: calls $15.95M, puts $14.81M Fri 24 Sep 2027: calls $4.93M, puts $3.77M24 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 $414.05M, puts $291.61M14 Nov Sun 15 Nov 2026: calls $171.75M, puts $135.20M Mon 16 Nov 2026: calls $62.73M, puts $29.51M16 Nov Fri 20 Nov 2026: calls $148.88M, puts $117.30M Fri 27 Nov 2026: calls $120.74M, puts $134.36M27 Nov Fri 4 Dec 2026: calls $26.41M, puts $35.86M Fri 25 Dec 2026: calls $77.86M, puts $94.48M25 Dec Fri 29 Jan 2027: calls $27.26M, puts $28.33M Fri 26 Mar 2027: calls $13.96M, puts $17.00M26 Mar Fri 25 Jun 2027: calls $1.41M, puts $939K Fri 24 Sep 2027: calls $527K, puts $1.54M24 Sep
24h volume by expiry table
ExpiryCalls (USD)Puts (USD)Total (USD)
Sat 14 Nov 2026$414.05M$291.61M$705.66M
Sun 15 Nov 2026$171.75M$135.20M$306.95M
Mon 16 Nov 2026$62.73M$29.51M$92.24M
Fri 20 Nov 2026$148.88M$117.30M$266.19M
Fri 27 Nov 2026$120.74M$134.36M$255.09M
Fri 4 Dec 2026$26.41M$35.86M$62.27M
Fri 25 Dec 2026$77.86M$94.48M$172.35M
Fri 29 Jan 2027$27.26M$28.33M$55.60M
Fri 26 Mar 2027$13.96M$17.00M$30.96M
Fri 25 Jun 2027$1.41M$939K$2.35M
Fri 24 Sep 2027$527K$1.54M$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$365.52M$70,0000.51$705.66M0.70
Sun 15 Nov daily$147.91M$70,0000.49$306.95M0.79
Mon 16 Nov daily$73.88M$69,5000.51$92.24M0.47
Fri 20 Nov weekly$319.27M$74,0000.77$266.19M0.79
Fri 27 Nov monthly$820.93M$78,0000.93$255.09M1.11
Fri 4 Dec weekly$46.25M$70,0000.90$62.27M1.36
Fri 25 Dec quarterly$727.19M$80,0000.92$172.35M1.21
Fri 29 Jan 2027 monthly$103.74M$78,0000.73$55.60M1.04
Fri 26 Mar 2027 quarterly$170.68M$70,0001.04$30.96M1.22
Fri 25 Jun 2027 quarterly$30.77M$74,0000.93$2.35M0.67
Fri 24 Sep 2027 quarterly$8.70M$75,0000.76$2.06M2.92

Max pain history, Sun 15 Nov expiry

hourly, last 30 days
  • Max pain 70,000
68,000 70,000 72,000 74,000 76,000 12:00 18:00 00:00 06:00 12:00

Put/call OI history, Sun 15 Nov expiry

hourly, last 30 days · dashed line = 1.0
  • Put/call OI 0.49
0.00 1.00 2.00 3.00 12:00 18:00 00:00 06:00 12:00
Put/call OI history table
Time (UTC)P/C OI
2026-11-12 09:000.25
2026-11-12 10:001.99
2026-11-12 11:001.56
2026-11-12 12:002.07
2026-11-12 13:001.55
2026-11-12 14:001.02
2026-11-12 15:000.81
2026-11-12 16:000.81
2026-11-12 17:001.30
2026-11-12 18:001.01
2026-11-12 19:001.03
2026-11-12 20:001.02
2026-11-12 21:001.30
2026-11-12 22:001.22
2026-11-12 23:001.23
2026-11-13 00:001.12
2026-11-13 01:001.03
2026-11-13 02:001.02
2026-11-13 03:000.86
2026-11-13 04:000.81
2026-11-13 05:000.87
2026-11-13 06:000.50
2026-11-13 07:000.48
2026-11-13 08:000.50
2026-11-13 09:000.54
2026-11-13 10:000.54
2026-11-13 11:000.53
2026-11-13 12:000.50
2026-11-13 13:000.48
2026-11-13 14:000.49

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 $2.81B 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 ($365.52M open interest); the next weekly expiry is Fri 20 Nov 2026 08:00 UTC ($319.27M open interest); the next monthly expiry is Fri 27 Nov 2026 08:00 UTC ($820.93M open interest); the next quarterly expiry is Fri 25 Dec 2026 08:00 UTC ($727.19M 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.