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Bitcoin (BTC) options max pain and open interest

BTC expiry 20 Nov 2026 08:00 UTC: max pain is $74,000; expiring notional $319.27M; selected-expiry P/C OI 0.77. 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 Fri 20 Nov 2026, 08:00 UTC

weekly · in 6d 17h · default: Next Friday expiry with ≥ $10M open interest
Max pain Bybit + Binance
$74,000
6.6% above spotindex $69,422.2
Max pain by exchange
Bybit $74,000Binance $75,000
Notional expiring
$319.27M
calls 2,602.3 BTCputs 1,996.7 BTC
Put/call ratio
0.77
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 76,000 → 74,000, put/call OI 1.00 → 0.77, notional $250.90M → $319.27M.

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

Max pain curve, Fri 20 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 $40M $50M 70K 80K 90K
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 Fri 20 Nov expiry: total option-holder payout by settlement strike
Strike (USD)Payout to holders (USD)
61,00020,234,355
62,00018,250,765
63,00016,319,565
64,00014,395,605
65,00012,588,975
66,00010,945,245
67,0009,399,955
68,0007,921,655
68,5007,263,685
69,0006,609,420
69,5005,994,435
70,0005,386,620
70,5004,952,150
71,0004,537,705
71,5004,161,025
72,0003,802,420
72,5003,547,345
73,0003,298,820
73,5003,119,910
74,000 (max pain)2,952,890
74,5003,000,950
75,0003,055,770
75,5003,275,960
76,0003,519,240
77,0004,244,480
78,0005,194,990
79,0006,347,480
80,0007,693,420
81,0009,229,690
82,00010,901,580
83,00012,671,560
84,00014,542,740
85,00016,547,520
86,00018,645,240
88,00023,197,620
90,00027,938,600
92,00032,863,520
94,00037,828,260
95,00040,327,260
96,00042,869,430
96,25043,510,703

Open interest by strike, Fri 20 Nov

BTC · calls above the line, puts below · stacked by exchange
  • Bybit
  • Binance
  • Max pain
  • Index price
400 200 0 200 400 61K 67K 70.5K 73.5K 77K 83K 92K 61,000: calls 0.0, puts 13.1 BTC 62,000: calls 0.0, puts 52.4 BTC 63,000: calls 0.0, puts 7.2 BTC 64,000: calls 2.0, puts 115.3 BTC 65,000: calls 0.5, puts 162.4 BTC 66,000: calls 2.9, puts 95.6 BTC 67,000: calls 2.3, puts 64.7 BTC 68,000: calls 24.1, puts 138.2 BTC 68,500: calls 2.3, puts 5.1 BTC 69,000: calls 35.0, puts 43.5 BTC 69,500: calls 11.8, puts 2.5 BTC 70,000: calls 47.9, puts 298.8 BTC 70,500: calls 33.9, puts 6.2 BTC 71,000: calls 25.8, puts 49.8 BTC 71,500: calls 33.1, puts 3.0 BTC 72,000: calls 54.2, puts 152.9 BTC 72,500: calls 13.1, puts 0.0 BTC 73,000: calls 55.2, puts 84.0 BTC 73,500: calls 17.8, puts 6.0 BTC 74,000: calls 265.5, puts 164.6 BTC 74,500: calls 8.8, puts 4.7 BTC 75,000: calls 187.0, puts 143.8 BTC 75,500: calls 45.1, puts 1.1 BTC 76,000: calls 156.2, puts 82.4 BTC 77,000: calls 132.3, puts 92.9 BTC 78,000: calls 143.1, puts 58.9 BTC 79,000: calls 155.6, puts 37.8 BTC 80,000: calls 158.6, puts 31.8 BTC 81,000: calls 90.2, puts 45.5 BTC 82,000: calls 82.6, puts 15.5 BTC 83,000: calls 98.4, puts 2.8 BTC 84,000: calls 131.6, puts 2.0 BTC 85,000: calls 90.8, puts 2.1 BTC 86,000: calls 170.6, puts 7.9 BTC 88,000: calls 92.3, puts 2.0 BTC 90,000: calls 91.9, puts 0.1 BTC 92,000: calls 19.9, puts 0.0 BTC 94,000: calls 16.6, puts 0.0 BTC 95,000: calls 43.2, puts 0.0 BTC 96,000: calls 22.9, puts 0.0 BTC 96,250: calls 37.2, puts 0.0 BTC

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

Chart and table show 41 of 41 source strikes, $61,000–$96,250. 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, Fri 20 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 Fri 20 Nov 2026 expiry, 08:00 UTC
Strike (USD)Calls (BTC)Puts (BTC)
61,000013.1200
62,000052.3900
63,00007.2400
64,0002115.3300
65,0000.4600162.4400
66,0002.880095.5600
67,0002.280064.7100
68,00024.1500138.2100
68,5002.30005.1100
69,00035.050043.5100
69,50011.80002.5400
70,00047.9000298.7900
70,50033.87006.1800
71,00025.760049.7700
71,50033.13003.0200
72,00054.1700152.8900
72,50013.07000.0300
73,00055.200084.0300
73,50017.80005.9800
74,000 (max pain)265.5400164.6200
74,5008.78004.7400
75,000186.9700143.7700
75,50045.13001.0500
76,000156.240082.4400
77,000132.320092.9500
78,000143.080058.9000
79,000155.640037.8100
80,000158.570031.7600
81,00090.170045.4500
82,00082.620015.4700
83,00098.44002.7600
84,000131.61001.9900
85,00090.83002.1100
86,000170.55007.9200
88,00092.28002.0200
90,00091.91000.0600
92,00019.89000.0200
94,00016.61000.0200
95,00043.17000
96,00022.92000
96,25037.25000

24h volume by strike, Fri 20 Nov

BTC · calls above the line, puts below · stacked by exchange
  • Bybit
  • Binance
  • Max pain
  • Index price
400 200 0 200 400 61K 67K 70.5K 73.5K 77K 83K 92K 61,000: calls 0.0, puts 15.9 BTC 62,000: calls 0.0, puts 87.6 BTC 63,000: calls 0.0, puts 14.8 BTC 64,000: calls 2.0, puts 219.0 BTC 65,000: calls 0.6, puts 264.4 BTC 66,000: calls 4.6, puts 325.0 BTC 67,000: calls 4.3, puts 123.6 BTC 68,000: calls 29.0, puts 258.3 BTC 68,500: calls 4.6, puts 8.1 BTC 69,000: calls 61.0, puts 65.1 BTC 69,500: calls 19.1, puts 4.0 BTC 70,000: calls 74.6, puts 127.9 BTC 70,500: calls 63.3, puts 9.3 BTC 71,000: calls 61.6, puts 52.0 BTC 71,500: calls 58.4, puts 3.7 BTC 72,000: calls 107.5, puts 34.4 BTC 72,500: calls 27.1, puts 0.1 BTC 73,000: calls 71.8, puts 16.4 BTC 73,500: calls 27.0, puts 1.6 BTC 74,000: calls 317.6, puts 18.3 BTC 74,500: calls 20.3, puts 0.0 BTC 75,000: calls 225.4, puts 9.2 BTC 75,500: calls 87.1, puts 1.1 BTC 76,000: calls 156.7, puts 3.0 BTC 77,000: calls 145.1, puts 1.0 BTC 78,000: calls 119.6, puts 0.1 BTC 79,000: calls 116.3, puts 0.1 BTC 80,000: calls 132.2, puts 14.1 BTC 81,000: calls 61.7, puts 0.1 BTC 82,000: calls 33.9, puts 8.5 BTC 83,000: calls 14.1, puts 0.4 BTC 84,000: calls 33.3, puts 0.0 BTC 85,000: calls 5.5, puts 0.0 BTC 86,000: calls 5.7, puts 0.4 BTC 88,000: calls 2.8, puts 0.0 BTC 90,000: calls 8.8, puts 0.0 BTC 92,000: calls 0.1, puts 0.0 BTC 94,000: calls 0.0, puts 0.0 BTC 95,000: calls 18.6, puts 0.0 BTC 96,000: calls 0.2, puts 0.0 BTC 96,250: calls 20.2, puts 0.0 BTC

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

Chart and table show 41 of 41 source strikes, $61,000–$96,250. 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)
61,000015.93
62,000087.56
63,000014.75
64,0002218.99
65,0000.59264.40
66,0004.59324.99
67,0004.31123.55
68,00029258.31
68,5004.568.12
69,00061.0565.14
69,50019.144.04
70,00074.61127.92
70,50063.319.33
71,00061.6451.95
71,50058.403.66
72,000107.5334.42
72,50027.070.06
73,00071.7616.41
73,50027.041.58
74,000317.5818.34
74,50020.290
75,000225.389.23
75,50087.121.05
76,000156.732.98
77,000145.101.02
78,000119.590.15
79,000116.260.06
80,000132.2014.08
81,00061.740.08
82,00033.908.50
83,00014.070.37
84,00033.260.01
85,0005.550
86,0005.660.40
88,0002.750
90,0008.770.01
92,0000.050.02
94,0000.020.02
95,00018.620
96,0000.200
96,25020.220

Open interest change by strike, Fri 20 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 61K 67K 70.5K 73.5K 77K 83K 92K 61,000: calls 0.0, puts 13.1 BTC 62,000: calls 0.0, puts 52.4 BTC 63,000: calls 0.0, puts 7.2 BTC 64,000: calls 2.0, puts 7.4 BTC 65,000: calls 0.4, puts 86.2 BTC 66,000: calls 2.7, puts -15.5 BTC 67,000: calls 2.3, puts 64.7 BTC 68,000: calls 21.7, puts 11.1 BTC 68,500: calls 2.3, puts 5.1 BTC 69,000: calls 35.0, puts 39.2 BTC 69,500: calls 11.8, puts 2.5 BTC 70,000: calls 47.0, puts -25.8 BTC 70,500: calls 33.9, puts 6.2 BTC 71,000: calls 21.9, puts -0.2 BTC 71,500: calls 33.1, puts 3.0 BTC 72,000: calls 46.3, puts -5.0 BTC 72,500: calls 13.1, puts 0.0 BTC 73,000: calls 32.8, puts -4.5 BTC 73,500: calls 13.3, puts 0.2 BTC 74,000: calls 184.6, puts -0.6 BTC 74,500: calls 6.7, puts 0.0 BTC 75,000: calls 87.0, puts 0.6 BTC 75,500: calls 35.5, puts 1.1 BTC 76,000: calls 37.3, puts -0.5 BTC 77,000: calls 37.5, puts 0.5 BTC 78,000: calls 55.0, puts -0.1 BTC 79,000: calls 63.9, puts -0.0 BTC 80,000: calls 49.9, puts -0.1 BTC 81,000: calls 31.6, puts -0.0 BTC 82,000: calls 10.9, puts 0.0 BTC 83,000: calls -11.5, puts -0.4 BTC 84,000: calls 12.3, puts 0.0 BTC 85,000: calls 4.0, puts 0.0 BTC 86,000: calls -4.9, puts 0.0 BTC 88,000: calls 1.2, puts 0.0 BTC 90,000: calls -0.2, puts 0.0 BTC 92,000: calls 0.1, puts 0.0 BTC 94,000: calls 0.0, puts 0.0 BTC 95,000: calls 0.0, puts 0.0 BTC 96,000: calls 0.2, puts 0.0 BTC 96,250: calls 0.0, 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)
61,000013.12
62,000052.39
63,00007.24
64,00027.39
65,0000.3986.23
66,0002.73-15.51
67,0002.2864.71
68,00021.6911.14
68,5002.305.11
69,00035.0539.24
69,50011.802.54
70,00046.95-25.75
70,50033.876.18
71,00021.89-0.23
71,50033.133.02
72,00046.32-4.99
72,50013.070.03
73,00032.75-4.53
73,50013.310.16
74,000184.60-0.63
74,5006.700
75,00087.040.59
75,50035.541.05
76,00037.34-0.55
77,00037.530.55
78,00055.04-0.10
79,00063.91-0.02
80,00049.87-0.10
81,00031.61-0.01
82,00010.920
83,000-11.47-0.37
84,00012.330.01
85,0004.040
86,000-4.930
88,0001.240
90,000-0.180.01
92,0000.050
94,0000.010.02
95,00000
96,0000.200
96,25000

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, Fri 20 Nov expiry

hourly, last 30 days
  • Max pain 74,000
72,500 75,000 77,500 80,000 82,500 31 Oct 3 Nov 6 Nov 9 Nov 12 Nov

Put/call OI history, Fri 20 Nov expiry

hourly, last 30 days · dashed line = 1.0
  • Put/call OI 0.77
0.00 0.50 1.00 1.50 2.00 31 Oct 3 Nov 6 Nov 9 Nov 12 Nov
Put/call OI history table
Time (UTC)P/C OI
2026-10-29 09:000.21
2026-10-29 12:001.56
2026-10-29 15:001.04
2026-10-29 18:001.14
2026-10-29 21:001.14
2026-10-30 00:001.39
2026-10-30 03:001.06
2026-10-30 06:001.15
2026-10-30 09:001.32
2026-10-30 12:001.56
2026-10-30 15:001.41
2026-10-30 18:001.33
2026-10-30 21:001.34
2026-10-31 00:001.32
2026-10-31 03:001.30
2026-10-31 06:001.31
2026-10-31 09:001.34
2026-10-31 12:001.36
2026-10-31 15:001.32
2026-10-31 18:001.32
2026-10-31 21:001.31
2026-11-01 00:001.30
2026-11-01 03:001.28
2026-11-01 06:001.30
2026-11-01 09:001.30
2026-11-01 12:001.30
2026-11-01 15:001.28
2026-11-01 18:001.28
2026-11-01 21:001.29
2026-11-02 00:001.29
2026-11-02 03:001.29
2026-11-02 06:001.31
2026-11-02 09:001.24
2026-11-02 12:001.25
2026-11-02 15:001.47
2026-11-02 18:001.35
2026-11-02 21:001.34
2026-11-03 00:001.35
2026-11-03 03:001.35
2026-11-03 06:001.34
2026-11-03 09:001.37
2026-11-03 12:001.37
2026-11-03 15:001.19
2026-11-03 18:001.16
2026-11-03 21:001.14
2026-11-04 00:001.14
2026-11-04 03:001.17
2026-11-04 06:001.15
2026-11-04 09:001.16
2026-11-04 12:001.18
2026-11-04 15:001.19
2026-11-04 18:001.28
2026-11-04 21:001.31
2026-11-05 00:001.29
2026-11-05 03:001.27
2026-11-05 06:001.26
2026-11-05 09:001.25
2026-11-05 12:001.22
2026-11-05 15:001.20
2026-11-05 18:001.16
2026-11-05 21:001.16
2026-11-06 00:001.19
2026-11-06 03:001.13
2026-11-06 06:001.14
2026-11-06 09:001.12
2026-11-06 12:001.09
2026-11-06 15:001.10
2026-11-06 18:001.12
2026-11-06 21:001.13
2026-11-07 00:001.15
2026-11-07 03:001.13
2026-11-07 06:001.13
2026-11-07 09:001.13
2026-11-07 12:001.12
2026-11-07 15:001.11
2026-11-07 18:001.11
2026-11-07 21:001.11
2026-11-08 00:001.11
2026-11-08 03:001.12
2026-11-08 06:001.12
2026-11-08 09:001.12
2026-11-08 12:001.12
2026-11-08 15:001.12
2026-11-08 18:001.15
2026-11-08 21:001.14
2026-11-09 00:001.16
2026-11-09 03:001.20
2026-11-09 06:001.21
2026-11-09 09:001.23
2026-11-09 12:001.24
2026-11-09 15:001.22
2026-11-09 18:001.22
2026-11-09 21:001.21
2026-11-10 00:001.21
2026-11-10 03:001.21
2026-11-10 06:001.22
2026-11-10 09:001.22
2026-11-10 12:001.20
2026-11-10 15:001.25
2026-11-10 18:001.35
2026-11-10 21:001.25
2026-11-11 00:001.23
2026-11-11 03:001.18
2026-11-11 06:001.22
2026-11-11 09:001.24
2026-11-11 12:001.24
2026-11-11 15:001.21
2026-11-11 18:001.20
2026-11-11 21:001.17
2026-11-12 00:001.17
2026-11-12 03:001.14
2026-11-12 06:001.13
2026-11-12 09:001.11
2026-11-12 12:001.06
2026-11-12 15:001.00
2026-11-12 18:001.00
2026-11-12 21:000.98
2026-11-13 00:000.97
2026-11-13 03:000.93
2026-11-13 06:000.86
2026-11-13 09:000.83
2026-11-13 12:000.80
2026-11-13 14:000.77

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.