Swolecharts
Live crypto data · 10 exchanges
Log inSign up

Bitcoin (BTC) options max pain and open interest

BTC expiry 25 Dec 2026 08:00 UTC: max pain is $80,000; expiring notional $727.19M; selected-expiry P/C OI 0.92. 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.

Share: Share on X Telegram Reddit Download the 1200×630 card

BTC options expiring Fri 25 Dec 2026, 08:00 UTC

quarterly · in 41d 17h
Max pain Bybit + Binance
$80,000
15.3% above spotindex $69,412.6
Max pain by exchange
Bybit $80,000Binance $80,000
Notional expiring
$727.19M
calls 5,452.3 BTCputs 5,024.0 BTC
Put/call ratio
0.92
open interest24h volume 1.21

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 80,000 → 80,000, put/call OI 0.92 → 0.92, notional $719.22M → $727.19M.

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

Max pain curve, Fri 25 Dec

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 $50M $100M $150M $200M 40K 60K 80K 100K
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 25 Dec expiry: total option-holder payout by settlement strike
Strike (USD)Payout to holders (USD)
35,000154,665,270
40,000131,857,770
45,000110,326,470
50,00090,312,270
52,00082,894,450
54,00075,544,650
55,00071,925,070
58,00062,191,270
60,00055,871,210
62,00050,630,510
63,00048,156,010
64,00045,794,830
65,00043,550,930
66,00041,554,270
67,00039,675,570
68,00037,857,720
70,00034,495,000
72,00031,897,140
73,00030,843,820
74,00029,822,240
75,00028,982,380
76,00028,478,060
77,00028,106,180
78,00027,830,860
79,00027,665,860
80,000 (max pain)27,610,260
82,00028,182,860
83,00028,696,640
84,00029,265,680
85,00029,935,830
86,00030,913,980
88,00033,356,840
90,00036,771,300
91,00039,351,340
92,00042,014,290
93,00044,791,150
94,00047,647,590
95,00050,552,120
96,00053,626,190
98,00059,880,990
100,00066,326,650
102,00073,457,030

Open interest by strike, Fri 25 Dec

BTC · calls above the line, puts below · stacked by exchange
  • Bybit
  • Binance
  • Max pain
  • Index price
1K 500 0 500 1K 35K 55K 65K 73K 79K 86K 94K 35,000: calls 0.2, puts 228.6 BTC 40,000: calls 0.6, puts 254.6 BTC 45,000: calls 24.0, puts 279.4 BTC 50,000: calls 2.3, puts 291.6 BTC 52,000: calls 0.0, puts 34.0 BTC 54,000: calls 13.1, puts 42.3 BTC 55,000: calls 2.8, puts 372.2 BTC 58,000: calls 0.0, puts 84.6 BTC 60,000: calls 12.3, puts 527.3 BTC 62,000: calls 30.0, puts 115.9 BTC 63,000: calls 11.6, puts 101.7 BTC 64,000: calls 28.3, puts 89.0 BTC 65,000: calls 29.7, puts 217.5 BTC 66,000: calls 18.8, puts 99.1 BTC 67,000: calls 13.2, puts 47.6 BTC 68,000: calls 32.4, puts 104.1 BTC 70,000: calls 78.4, puts 304.0 BTC 72,000: calls 92.8, puts 152.8 BTC 73,000: calls 8.2, puts 23.5 BTC 74,000: calls 61.2, puts 120.5 BTC 75,000: calls 113.8, puts 221.8 BTC 76,000: calls 34.6, puts 97.9 BTC 77,000: calls 29.1, puts 67.5 BTC 78,000: calls 46.4, puts 63.9 BTC 79,000: calls 59.1, puts 50.2 BTC 80,000: calls 155.6, puts 186.3 BTC 82,000: calls 120.5, puts 107.0 BTC 83,000: calls 46.5, puts 8.8 BTC 84,000: calls 69.3, puts 31.8 BTC 85,000: calls 246.5, puts 61.5 BTC 86,000: calls 185.8, puts 57.5 BTC 88,000: calls 441.7, puts 44.1 BTC 90,000: calls 826.2, puts 46.6 BTC 91,000: calls 78.5, puts 4.4 BTC 92,000: calls 104.0, puts 9.9 BTC 93,000: calls 79.2, puts 0.4 BTC 94,000: calls 41.6, puts 6.5 BTC 95,000: calls 151.0, puts 18.6 BTC 96,000: calls 53.3, puts 0.0 BTC 98,000: calls 94.2, puts 1.2 BTC 100,000: calls 330.5, puts 11.8 BTC 102,000: calls 94.1, puts 0.1 BTC

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

Chart and table show 42 of 58 source strikes, $35,000–$102,000. Select strikes within ±50% of the index price, then the 60 closest if capped. 42 eligible before the cap; 16 omitted (16 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 25 Dec 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 25 Dec 2026 expiry, 08:00 UTC
Strike (USD)Calls (BTC)Puts (BTC)
35,0000.2000228.6000
40,0000.6300254.6100
45,00023.9700279.4500
50,0002.3000291.6300
52,000034.0100
54,00013.050042.2700
55,0002.7500372.2300
58,000084.5700
60,00012.3400527.3400
62,00029.9900115.8600
63,00011.6200101.7000
64,00028.270089.0100
65,00029.7300217.5100
66,00018.840099.1200
67,00013.250047.6000
68,00032.3900104.1000
70,00078.4200304.0100
72,00092.8400152.7700
73,0008.200023.5400
74,00061.2000120.5200
75,000113.7800221.7600
76,00034.550097.8900
77,00029.090067.4700
78,00046.400063.9200
79,00059.150050.2500
80,000 (max pain)155.6400186.2600
82,000120.4800107
83,00046.45008.8100
84,00069.310031.8000
85,000246.550061.4500
86,000185.750057.5300
88,000441.720044.0800
90,000826.240046.5700
91,00078.54004.3700
92,000103.97009.9400
93,00079.18000.4000
94,00041.55006.5400
95,000150.990018.5500
96,00053.33000
98,00094.20001.2300
100,000330.520011.8400
102,00094.14000.1000

24h volume by strike, Fri 25 Dec

BTC · calls above the line, puts below · stacked by exchange
  • Bybit
  • Binance
  • Max pain
  • Index price
300 200 100 0 100 200 35K 55K 65K 73K 79K 86K 94K 35,000: calls 0.0, puts 18.1 BTC 40,000: calls 0.4, puts 29.0 BTC 45,000: calls 6.6, puts 19.5 BTC 50,000: calls 0.1, puts 92.4 BTC 52,000: calls 0.0, puts 32.5 BTC 54,000: calls 0.0, puts 23.5 BTC 55,000: calls 0.0, puts 153.6 BTC 58,000: calls 0.0, puts 42.2 BTC 60,000: calls 0.1, puts 293.0 BTC 62,000: calls 9.2, puts 161.6 BTC 63,000: calls 0.0, puts 48.2 BTC 64,000: calls 1.6, puts 78.9 BTC 65,000: calls 2.0, puts 50.1 BTC 66,000: calls 0.1, puts 47.2 BTC 67,000: calls 3.2, puts 13.2 BTC 68,000: calls 6.2, puts 67.3 BTC 70,000: calls 46.4, puts 30.3 BTC 72,000: calls 85.4, puts 23.6 BTC 73,000: calls 20.2, puts 10.5 BTC 74,000: calls 42.4, puts 3.5 BTC 75,000: calls 21.6, puts 6.8 BTC 76,000: calls 15.1, puts 0.3 BTC 77,000: calls 35.7, puts 27.9 BTC 78,000: calls 34.1, puts 2.1 BTC 79,000: calls 25.4, puts 0.0 BTC 80,000: calls 85.1, puts 7.2 BTC 82,000: calls 51.4, puts 9.8 BTC 83,000: calls 25.7, puts 0.0 BTC 84,000: calls 14.0, puts 4.2 BTC 85,000: calls 51.5, puts 0.5 BTC 86,000: calls 127.5, puts 0.5 BTC 88,000: calls 73.9, puts 0.1 BTC 90,000: calls 70.1, puts 0.1 BTC 91,000: calls 8.0, puts 0.0 BTC 92,000: calls 34.0, puts 0.1 BTC 93,000: calls 3.1, puts 0.0 BTC 94,000: calls 10.2, puts 0.0 BTC 95,000: calls 29.7, puts 0.8 BTC 96,000: calls 5.7, puts 0.0 BTC 98,000: calls 12.9, puts 0.0 BTC 100,000: calls 38.9, puts 0.0 BTC 102,000: calls 5.2, puts 0.1 BTC

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

Chart and table show 42 of 58 source strikes, $35,000–$102,000. Select strikes within ±50% of the index price, then the 60 closest if capped. 42 eligible before the cap; 16 omitted (16 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)
35,000018.11
40,0000.3629
45,0006.6419.48
50,0000.1092.44
52,000032.50
54,0000.0123.54
55,0000.01153.56
58,000042.25
60,0000.05293.03
62,0009.24161.61
63,0000.0248.21
64,0001.6378.86
65,0002.0550.15
66,0000.0547.25
67,0003.1913.15
68,0006.2067.27
70,00046.4430.33
72,00085.4023.58
73,00020.1810.49
74,00042.433.45
75,00021.556.81
76,00015.070.30
77,00035.7227.91
78,00034.152.14
79,00025.380.02
80,00085.077.20
82,00051.429.76
83,00025.690
84,00013.974.16
85,00051.500.51
86,000127.450.51
88,00073.910.10
90,00070.050.10
91,00080.01
92,00034.030.06
93,0003.080
94,00010.170.01
95,00029.670.81
96,0005.660
98,00012.890
100,00038.890.01
102,0005.230.10

Open interest change by strike, Fri 25 Dec

BTC · 24h change · calls signed, puts mirrored · stacked by exchange · How to read open interest changes
  • Bybit
  • Binance
  • Index price
150 100 50 0 50 100 35K 55K 65K 73K 79K 86K 94K 35,000: calls 0.0, puts -9.8 BTC 40,000: calls 0.0, puts -6.0 BTC 45,000: calls 0.0, puts 3.2 BTC 50,000: calls 0.0, puts 1.0 BTC 52,000: calls 0.0, puts 4.9 BTC 54,000: calls 0.0, puts -16.8 BTC 55,000: calls 0.0, puts 37.5 BTC 58,000: calls 0.0, puts 28.6 BTC 60,000: calls 0.0, puts 119.3 BTC 62,000: calls 2.2, puts 11.9 BTC 63,000: calls -0.0, puts -1.3 BTC 64,000: calls 1.4, puts -4.5 BTC 65,000: calls 0.0, puts 14.2 BTC 66,000: calls 0.0, puts 7.3 BTC 67,000: calls 0.9, puts 2.4 BTC 68,000: calls 4.3, puts 12.9 BTC 70,000: calls 21.1, puts 3.3 BTC 72,000: calls 38.7, puts -2.1 BTC 73,000: calls 8.1, puts -0.1 BTC 74,000: calls 1.0, puts -0.6 BTC 75,000: calls -3.4, puts -3.3 BTC 76,000: calls -1.0, puts -0.9 BTC 77,000: calls 6.2, puts -12.2 BTC 78,000: calls 7.6, puts -2.1 BTC 79,000: calls 8.6, puts 0.0 BTC 80,000: calls 21.0, puts -1.3 BTC 82,000: calls 16.5, puts -1.6 BTC 83,000: calls 8.4, puts 0.0 BTC 84,000: calls 13.5, puts 0.0 BTC 85,000: calls 9.4, puts -0.2 BTC 86,000: calls 58.6, puts 0.1 BTC 88,000: calls 29.4, puts 0.0 BTC 90,000: calls 11.1, puts 0.0 BTC 91,000: calls -2.1, puts 0.0 BTC 92,000: calls 6.2, puts 0.0 BTC 93,000: calls 0.8, puts 0.0 BTC 94,000: calls 2.0, puts 0.0 BTC 95,000: calls 8.0, puts 0.8 BTC 96,000: calls 5.0, puts 0.0 BTC 98,000: calls -2.2, puts 0.0 BTC 100,000: calls -5.4, puts -0.0 BTC 102,000: calls 4.1, 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)
30,000016.41
35,0000-9.82
40,0000-5.96
45,00003.19
50,00001.03
52,00004.95
54,0000-16.84
55,000037.52
58,000028.60
60,0000119.33
62,0002.2311.88
63,000-0.01-1.29
64,0001.36-4.46
65,000014.20
66,0000.017.28
67,0000.932.35
68,0004.3312.93
70,00021.083.29
72,00038.66-2.12
73,0008.09-0.07
74,0000.95-0.56
75,000-3.45-3.26
76,000-0.97-0.94
77,0006.18-12.17
78,0007.60-2.13
79,0008.600
80,00020.96-1.30
82,00016.49-1.62
83,0008.380
84,00013.530
85,0009.36-0.22
86,00058.580.09
88,00029.430
90,00011.150
91,000-2.060
92,0006.210
93,0000.770
94,0001.970
95,0007.970.80
96,0004.990
98,000-2.250
100,000-5.36-0.01
102,0004.100
105,0001.250
106,00010
108,0003.570
110,000-15.920
115,000-0.580
120,000-0.890
125,0000.000
130,000-0.900
135,00000
140,00000
160,000-0.090
200,0000.211.62
250,00000
300,000014.30
350,000-0.01-0.02

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 25 Dec expiry

hourly, last 30 days
  • Max pain 80,000
79,000 80,000 81,000 82,000 83,000 19 Oct 24 Oct 29 Oct 3 Nov 8 Nov 13 Nov

Put/call OI history, Fri 25 Dec expiry

hourly, last 30 days · dashed line = 1.0
  • Put/call OI 0.92
0.50 1.00 1.50 2.00 19 Oct 24 Oct 29 Oct 3 Nov 8 Nov 13 Nov
Put/call OI history table
Time (UTC)P/C OI
2026-10-14 15:001.58
2026-10-14 19:001.59
2026-10-14 23:001.58
2026-10-15 03:001.58
2026-10-15 07:001.57
2026-10-15 11:001.59
2026-10-15 15:001.59
2026-10-15 19:001.59
2026-10-15 23:001.60
2026-10-16 03:001.60
2026-10-16 07:001.60
2026-10-16 11:001.59
2026-10-16 15:001.59
2026-10-16 19:001.58
2026-10-16 23:001.58
2026-10-17 03:001.58
2026-10-17 07:001.58
2026-10-17 11:001.58
2026-10-17 15:001.58
2026-10-17 19:001.58
2026-10-17 23:001.58
2026-10-18 03:001.58
2026-10-18 07:001.58
2026-10-18 11:001.58
2026-10-18 15:001.58
2026-10-18 19:001.58
2026-10-18 23:001.59
2026-10-19 03:001.58
2026-10-19 07:001.58
2026-10-19 11:001.58
2026-10-19 15:001.58
2026-10-19 19:001.62
2026-10-19 23:001.62
2026-10-20 03:001.73
2026-10-20 07:001.73
2026-10-20 11:001.73
2026-10-20 15:001.79
2026-10-20 19:001.79
2026-10-20 23:001.78
2026-10-21 03:001.80
2026-10-21 07:001.80
2026-10-21 11:001.80
2026-10-21 15:001.79
2026-10-21 19:001.79
2026-10-21 23:001.79
2026-10-22 03:001.74
2026-10-22 07:001.72
2026-10-22 11:001.69
2026-10-22 15:001.69
2026-10-22 19:001.68
2026-10-22 23:001.69
2026-10-23 03:001.68
2026-10-23 07:001.68
2026-10-23 11:001.68
2026-10-23 15:001.68
2026-10-23 19:001.68
2026-10-23 23:001.68
2026-10-24 03:001.69
2026-10-24 07:001.69
2026-10-24 11:001.69
2026-10-24 15:001.65
2026-10-24 19:001.65
2026-10-24 23:001.65
2026-10-25 03:001.64
2026-10-25 07:001.64
2026-10-25 11:001.64
2026-10-25 15:001.64
2026-10-25 19:001.63
2026-10-25 23:001.64
2026-10-26 03:001.63
2026-10-26 07:001.63
2026-10-26 11:001.60
2026-10-26 15:001.60
2026-10-26 19:001.59
2026-10-26 23:001.59
2026-10-27 03:001.59
2026-10-27 07:001.59
2026-10-27 11:001.58
2026-10-27 15:001.53
2026-10-27 19:001.53
2026-10-27 23:001.53
2026-10-28 03:001.52
2026-10-28 07:001.52
2026-10-28 11:001.53
2026-10-28 15:001.52
2026-10-28 19:001.52
2026-10-28 23:001.52
2026-10-29 03:001.52
2026-10-29 07:001.51
2026-10-29 11:001.51
2026-10-29 15:001.52
2026-10-29 19:001.52
2026-10-29 23:001.46
2026-10-30 03:001.39
2026-10-30 07:001.38
2026-10-30 11:001.34
2026-10-30 15:001.33
2026-10-30 19:001.31
2026-10-30 23:001.26
2026-10-31 03:001.26
2026-10-31 07:001.25
2026-10-31 11:001.25
2026-10-31 15:001.25
2026-10-31 19:001.25
2026-10-31 23:001.25
2026-11-01 03:001.25
2026-11-01 07:001.25
2026-11-01 11:001.25
2026-11-01 15:001.25
2026-11-01 19:001.25
2026-11-01 23:001.25
2026-11-02 03:001.24
2026-11-02 07:001.25
2026-11-02 11:001.24
2026-11-02 15:001.24
2026-11-02 19:001.22
2026-11-02 23:001.21
2026-11-03 03:001.22
2026-11-03 07:001.20
2026-11-03 11:001.20
2026-11-03 15:001.20
2026-11-03 19:001.20
2026-11-03 23:001.20
2026-11-04 03:001.19
2026-11-04 07:001.19
2026-11-04 11:001.18
2026-11-04 15:001.18
2026-11-04 19:001.19
2026-11-04 23:001.19
2026-11-05 03:001.19
2026-11-05 07:001.19
2026-11-05 11:001.19
2026-11-05 15:001.19
2026-11-05 19:001.09
2026-11-05 23:001.09
2026-11-06 03:001.08
2026-11-06 07:001.08
2026-11-06 11:001.08
2026-11-06 15:001.08
2026-11-06 19:001.02
2026-11-06 23:001.03
2026-11-07 03:001.02
2026-11-07 07:001.02
2026-11-07 11:001.03
2026-11-07 15:001.03
2026-11-07 19:001.03
2026-11-07 23:001.03
2026-11-08 03:001.03
2026-11-08 07:001.03
2026-11-08 11:001.03
2026-11-08 15:001.02
2026-11-08 19:001.02
2026-11-08 23:001.01
2026-11-09 03:001.00
2026-11-09 07:001.00
2026-11-09 11:000.96
2026-11-09 15:000.96
2026-11-09 19:000.96
2026-11-09 23:000.95
2026-11-10 03:000.95
2026-11-10 07:000.95
2026-11-10 11:000.95
2026-11-10 15:000.95
2026-11-10 19:000.94
2026-11-10 23:000.94
2026-11-11 03:000.95
2026-11-11 07:000.94
2026-11-11 11:000.94
2026-11-11 15:000.94
2026-11-11 19:000.94
2026-11-11 23:000.94
2026-11-12 03:000.93
2026-11-12 07:000.93
2026-11-12 11:000.93
2026-11-12 15:000.92
2026-11-12 19:000.92
2026-11-12 23:000.91
2026-11-13 03:000.92
2026-11-13 07:000.94
2026-11-13 11:000.92
2026-11-13 14:000.92

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.