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Bitcoin (BTC) options max pain and open interest

BTC expiry 26 Mar 2027 08:00 UTC: max pain is $70,000; expiring notional $170.37M; selected-expiry P/C OI 1.04. 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 26 Mar 2027, 08:00 UTC

quarterly · in 132d 17h
Max pain Bybit + Binance
$70,000
1.1% above spotindex $69,241.3
Max pain by exchange
Bybit $74,000Binance $66,000
Notional expiring
$170.37M
calls 1,207.8 BTCputs 1,252.9 BTC
Put/call ratio
1.04
open interest24h volume 1.24

Next expiry (daily) in 17h 37m. Sat 14 Nov, 08:00 UTC · notional $361.03M · max pain $70,000 · put/call (OI) 0.51.

Since 24h ago: max pain 70,000 → 70,000, put/call OI 1.02 → 1.04, notional $168.01M → $170.37M.

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

Max pain curve, Fri 26 Mar 2027

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 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 26 Mar 2027 expiry: total option-holder payout by settlement strike
Strike (USD)Payout to holders (USD)
35,00033,103,680
40,00027,937,580
45,00023,706,380
50,00019,650,130
52,00018,274,310
54,00016,945,630
55,00016,314,600
56,00015,741,520
58,00014,642,820
60,00013,654,520
61,00013,312,180
62,00013,073,130
63,00012,864,280
64,00012,674,350
65,00012,532,490
66,00012,420,640
67,00012,335,030
68,00012,262,270
70,000 (max pain)12,241,530
72,00012,356,490
74,00012,504,310
75,00012,614,210
76,00012,728,090
78,00013,072,990
80,00013,500,550
82,00014,025,210
84,00014,593,170
85,00014,934,970
86,00015,296,970
88,00016,182,610
90,00017,151,430
92,00018,299,390
94,00019,483,270
95,00020,088,540
96,00020,746,610
98,00022,079,570
100,00023,425,590

Open interest by strike, Fri 26 Mar 2027

BTC · calls above the line, puts below · stacked by exchange
  • Bybit
  • Binance
  • Max pain
  • Index price
150 100 50 0 50 100 35K 54K 61K 66K 74K 82K 90K 98K 35,000: calls 72.9, puts 55.1 BTC 40,000: calls 83.9, puts 103.1 BTC 45,000: calls 4.3, puts 30.7 BTC 50,000: calls 3.1, puts 120.3 BTC 52,000: calls 1.0, puts 22.6 BTC 54,000: calls 3.0, puts 30.3 BTC 55,000: calls 5.2, puts 52.8 BTC 56,000: calls 2.0, puts 21.7 BTC 58,000: calls 10.7, puts 44.5 BTC 60,000: calls 3.9, puts 148.0 BTC 61,000: calls 74.6, puts 28.7 BTC 62,000: calls 3.1, puts 27.1 BTC 63,000: calls 2.0, puts 16.9 BTC 64,000: calls 11.5, puts 36.5 BTC 65,000: calls 1.9, puts 28.1 BTC 66,000: calls 2.0, puts 24.2 BTC 67,000: calls 0.5, puts 12.4 BTC 68,000: calls 8.1, puts 54.3 BTC 70,000: calls 5.0, puts 62.9 BTC 72,000: calls 7.1, puts 9.3 BTC 74,000: calls 17.1, puts 18.9 BTC 75,000: calls 1.3, puts 2.6 BTC 76,000: calls 13.7, puts 44.8 BTC 78,000: calls 19.1, puts 22.2 BTC 80,000: calls 26.4, puts 22.2 BTC 82,000: calls 9.1, puts 12.5 BTC 84,000: calls 24.1, puts 33.8 BTC 85,000: calls 20.0, puts 0.2 BTC 86,000: calls 51.6, puts 29.2 BTC 88,000: calls 39.1, puts 2.5 BTC 90,000: calls 74.1, puts 15.5 BTC 92,000: calls 15.2, puts 2.8 BTC 94,000: calls 12.4, puts 0.9 BTC 95,000: calls 47.5, puts 5.3 BTC 96,000: calls 7.5, puts 1.0 BTC 98,000: calls 2.1, puts 4.4 BTC 100,000: calls 57.0, puts 1.1 BTC

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

Chart and table show 37 of 51 source strikes, $35,000–$100,000. Select strikes within ±50% of the index price, then the 60 closest if capped. 37 eligible before the cap; 14 omitted (14 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 26 Mar 2027, 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 26 Mar 2027 expiry, 08:00 UTC
Strike (USD)Calls (BTC)Puts (BTC)
35,00072.880055.0600
40,00083.8800103.1000
45,0004.320030.6700
50,0003.0700120.2700
52,000122.5700
54,000330.3100
55,0005.150052.8000
56,000221.7300
58,00010.720044.4800
60,0003.8500147.9600
61,00074.590028.7000
62,0003.140027.0600
63,000216.9200
64,00011.530036.5400
65,0001.930028.0800
66,0002.050024.1900
67,0000.450012.4000
68,0008.100054.2900
70,000 (max pain)4.960062.8900
72,0007.11009.3200
74,00017.130018.8600
75,0001.33002.6500
76,00013.730044.8400
78,00019.150022.1800
80,00026.380022.1700
82,0009.130012.5200
84,00024.060033.7600
85,00019.96000.2400
86,00051.580029.2400
88,00039.05002.5400
90,00074.110015.4600
92,00015.16002.8000
94,00012.40000.9300
95,00047.48005.3200
96,0007.45000.9600
98,0002.13004.4000
100,00057.03001.0700

24h volume by strike, Fri 26 Mar 2027

BTC · calls above the line, puts below · stacked by exchange
  • Bybit
  • Binance
  • Max pain
  • Index price
40 20 0 20 40 35K 54K 61K 66K 74K 82K 90K 98K 35,000: calls 5.9, puts 12.9 BTC 40,000: calls 2.5, puts 28.9 BTC 45,000: calls 4.0, puts 6.5 BTC 50,000: calls 2.9, puts 7.5 BTC 52,000: calls 1.0, puts 8.5 BTC 54,000: calls 1.0, puts 18.5 BTC 55,000: calls 3.0, puts 29.8 BTC 56,000: calls 2.0, puts 2.6 BTC 58,000: calls 3.0, puts 1.2 BTC 60,000: calls 1.0, puts 14.8 BTC 61,000: calls 0.0, puts 2.1 BTC 62,000: calls 0.4, puts 4.8 BTC 63,000: calls 0.0, puts 0.0 BTC 64,000: calls 0.1, puts 2.4 BTC 65,000: calls 0.5, puts 4.9 BTC 66,000: calls 0.0, puts 3.6 BTC 67,000: calls 0.1, puts 0.1 BTC 68,000: calls 0.4, puts 23.6 BTC 70,000: calls 9.9, puts 23.7 BTC 72,000: calls 2.4, puts 5.0 BTC 74,000: calls 8.6, puts 7.0 BTC 75,000: calls 1.0, puts 2.6 BTC 76,000: calls 1.2, puts 0.1 BTC 78,000: calls 8.3, puts 0.1 BTC 80,000: calls 23.8, puts 3.6 BTC 82,000: calls 7.0, puts 0.1 BTC 84,000: calls 7.1, puts 0.2 BTC 85,000: calls 15.2, puts 0.0 BTC 86,000: calls 1.5, puts 0.3 BTC 88,000: calls 0.2, puts 2.5 BTC 90,000: calls 16.1, puts 1.0 BTC 92,000: calls 2.2, puts 0.1 BTC 94,000: calls 3.0, puts 0.3 BTC 95,000: calls 9.0, puts 0.4 BTC 96,000: calls 3.1, puts 0.3 BTC 98,000: calls 0.5, puts 0.4 BTC 100,000: calls 10.8, puts 0.4 BTC

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

Chart and table show 37 of 51 source strikes, $35,000–$100,000. Select strikes within ±50% of the index price, then the 60 closest if capped. 37 eligible before the cap; 14 omitted (14 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)
35,0005.8812.89
40,0002.5028.91
45,00046.46
50,0002.857.46
52,00018.48
54,000118.53
55,0003.0529.75
56,00022.56
58,00031.24
60,0001.0214.81
61,00002.09
62,0000.414.81
63,00000
64,0000.052.40
65,0000.524.89
66,0000.023.64
67,0000.110.12
68,0000.4123.56
70,0009.8723.70
72,0002.385
74,0008.597
75,0001.032.65
76,0001.170.14
78,0008.280.15
80,00023.843.65
82,0007.030.05
84,0007.130.18
85,00015.240.01
86,0001.530.26
88,0000.162.52
90,00016.111.04
92,0002.200.15
94,0002.980.33
95,0009.010.37
96,0003.110.34
98,0000.470.36
100,00010.780.37

Open interest change by strike, Fri 26 Mar 2027

BTC · 24h change · calls signed, puts mirrored · stacked by exchange · How to read open interest changes
  • Bybit
  • Binance
  • Index price
30 20 10 0 10 20 35K 54K 61K 66K 74K 82K 90K 98K 35,000: calls -0.0, puts -7.4 BTC 40,000: calls 0.0, puts 4.6 BTC 45,000: calls 0.0, puts 1.6 BTC 50,000: calls 0.0, puts -0.6 BTC 52,000: calls 0.0, puts 8.5 BTC 54,000: calls 0.0, puts 15.9 BTC 55,000: calls 0.0, puts 21.2 BTC 56,000: calls 0.0, puts 0.0 BTC 58,000: calls 0.0, puts 0.2 BTC 60,000: calls 0.0, puts 7.9 BTC 61,000: calls 0.0, puts 2.0 BTC 62,000: calls 0.0, puts 1.4 BTC 63,000: calls 0.0, puts 0.0 BTC 64,000: calls 0.0, puts 1.7 BTC 65,000: calls 0.2, puts 2.7 BTC 66,000: calls 0.0, puts 1.0 BTC 67,000: calls 0.1, puts -0.1 BTC 68,000: calls 0.3, puts 8.5 BTC 70,000: calls 0.9, puts 11.2 BTC 72,000: calls 1.8, puts 0.0 BTC 74,000: calls 8.2, puts -0.1 BTC 75,000: calls 0.8, puts 0.0 BTC 76,000: calls 0.4, puts 0.0 BTC 78,000: calls 3.8, puts 0.0 BTC 80,000: calls 2.9, puts 0.6 BTC 82,000: calls 5.0, puts 0.0 BTC 84,000: calls 0.7, puts 0.0 BTC 85,000: calls 9.2, puts 0.0 BTC 86,000: calls 0.4, puts 0.0 BTC 88,000: calls 0.0, puts 0.0 BTC 90,000: calls 11.5, puts 0.0 BTC 92,000: calls 1.6, puts 0.0 BTC 94,000: calls 0.5, puts 0.0 BTC 95,000: calls 5.1, puts 0.0 BTC 96,000: calls 2.4, puts 0.0 BTC 98,000: calls 0.0, puts 0.0 BTC 100,000: calls 4.6, 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)
10,00000.10
20,00000
30,00000.98
35,000-0.01-7.43
40,00004.59
45,0000.001.57
50,0000-0.56
52,00008.47
54,000015.94
55,0000.0521.23
56,00000
58,00000.20
60,0000.017.91
61,00002
62,00001.36
63,00000
64,0000.041.69
65,0000.162.73
66,0000.010.96
67,0000.11-0.10
68,0000.278.49
70,0000.8611.15
72,0001.810.04
74,0008.17-0.13
75,0000.820
76,0000.420.00
78,0003.760
80,0002.870.63
82,0005.020
84,0000.710
85,0009.180
86,0000.380
88,0000.010
90,00011.480.04
92,0001.610.00
94,0000.490
95,0005.070
96,0002.390
98,00000
100,0004.610
105,0000.660
107,000-2.210
108,00000
110,0000.890
115,00000
120,000-0.66-1
125,0002.050
130,0000.130
150,0000.960
200,0000.020
250,00000
300,0000.900

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, Fri 26 Mar 2027 expiry

hourly, last 30 days
  • Max pain 70,000
62,500 65,000 67,500 70,000 72,500 75,000 19 Oct 24 Oct 29 Oct 3 Nov 8 Nov 13 Nov

Put/call OI history, Fri 26 Mar 2027 expiry

hourly, last 30 days · dashed line = 1.0
  • Put/call OI 1.04
0.90 1.00 1.10 1.20 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 15:000.96
2026-10-14 19:000.96
2026-10-14 23:000.96
2026-10-15 03:000.97
2026-10-15 07:000.98
2026-10-15 11:000.99
2026-10-15 15:001.00
2026-10-15 19:001.00
2026-10-15 23:001.01
2026-10-16 03:001.01
2026-10-16 07:001.01
2026-10-16 11:001.02
2026-10-16 15:001.01
2026-10-16 19:001.01
2026-10-16 23:001.01
2026-10-17 03:001.02
2026-10-17 07:001.02
2026-10-17 11:001.02
2026-10-17 15:001.03
2026-10-17 19:001.03
2026-10-17 23:001.03
2026-10-18 03:001.03
2026-10-18 07:001.03
2026-10-18 11:001.03
2026-10-18 15:001.00
2026-10-18 19:001.00
2026-10-18 23:001.00
2026-10-19 03:001.00
2026-10-19 07:001.00
2026-10-19 11:001.01
2026-10-19 15:001.00
2026-10-19 19:001.01
2026-10-19 23:001.01
2026-10-20 03:001.02
2026-10-20 07:001.02
2026-10-20 11:001.03
2026-10-20 15:001.02
2026-10-20 19:001.01
2026-10-20 23:001.01
2026-10-21 03:001.02
2026-10-21 07:001.02
2026-10-21 11:001.03
2026-10-21 15:001.04
2026-10-21 19:001.04
2026-10-21 23:001.04
2026-10-22 03:001.04
2026-10-22 07:001.05
2026-10-22 11:001.06
2026-10-22 15:001.07
2026-10-22 19:001.07
2026-10-22 23:001.07
2026-10-23 03:001.07
2026-10-23 07:001.08
2026-10-23 11:001.08
2026-10-23 15:001.08
2026-10-23 19:001.09
2026-10-23 23:001.09
2026-10-24 03:001.09
2026-10-24 07:001.09
2026-10-24 11:001.10
2026-10-24 15:001.10
2026-10-24 19:001.10
2026-10-24 23:001.10
2026-10-25 03:001.10
2026-10-25 07:001.10
2026-10-25 11:001.10
2026-10-25 15:001.10
2026-10-25 19:001.10
2026-10-25 23:001.10
2026-10-26 03:001.09
2026-10-26 07:001.10
2026-10-26 11:001.10
2026-10-26 15:001.08
2026-10-26 19:001.08
2026-10-26 23:001.08
2026-10-27 03:001.07
2026-10-27 07:001.08
2026-10-27 11:001.08
2026-10-27 15:001.07
2026-10-27 19:001.07
2026-10-27 23:001.06
2026-10-28 03:001.06
2026-10-28 07:001.06
2026-10-28 11:001.06
2026-10-28 15:001.09
2026-10-28 19:001.11
2026-10-28 23:001.11
2026-10-29 03:001.11
2026-10-29 07:001.11
2026-10-29 11:001.10
2026-10-29 15:001.10
2026-10-29 19:001.11
2026-10-29 23:001.09
2026-10-30 03:001.08
2026-10-30 07:001.07
2026-10-30 11:001.07
2026-10-30 15:001.03
2026-10-30 19:000.99
2026-10-30 23:000.99
2026-10-31 03:000.99
2026-10-31 07:000.99
2026-10-31 11:000.99
2026-10-31 15:000.99
2026-10-31 19:000.97
2026-10-31 23:000.97
2026-11-01 03:000.97
2026-11-01 07:000.97
2026-11-01 11:000.97
2026-11-01 15:000.97
2026-11-01 19:000.97
2026-11-01 23:000.97
2026-11-02 03:000.97
2026-11-02 07:000.98
2026-11-02 11:000.97
2026-11-02 15:000.96
2026-11-02 19:000.97
2026-11-02 23:000.97
2026-11-03 03:000.96
2026-11-03 07:000.97
2026-11-03 11:000.96
2026-11-03 15:000.96
2026-11-03 19:000.95
2026-11-03 23:000.95
2026-11-04 03:000.94
2026-11-04 07:000.94
2026-11-04 11:000.94
2026-11-04 15:000.93
2026-11-04 19:000.93
2026-11-04 23:000.94
2026-11-05 03:000.94
2026-11-05 07:000.94
2026-11-05 11:000.94
2026-11-05 15:000.95
2026-11-05 19:000.95
2026-11-05 23:000.95
2026-11-06 03:000.95
2026-11-06 07:000.96
2026-11-06 11:000.96
2026-11-06 15:000.96
2026-11-06 19:000.97
2026-11-06 23:000.97
2026-11-07 03:000.97
2026-11-07 07:000.97
2026-11-07 11:000.97
2026-11-07 15:000.96
2026-11-07 19:000.96
2026-11-07 23:000.96
2026-11-08 03:000.96
2026-11-08 07:000.96
2026-11-08 11:000.96
2026-11-08 15:000.96
2026-11-08 19:000.96
2026-11-08 23:000.96
2026-11-09 03:000.96
2026-11-09 07:000.96
2026-11-09 11:000.96
2026-11-09 15:000.96
2026-11-09 19:000.95
2026-11-09 23:000.95
2026-11-10 03:000.95
2026-11-10 07:000.94
2026-11-10 11:000.94
2026-11-10 15:000.96
2026-11-10 19:000.98
2026-11-10 23:000.99
2026-11-11 03:000.99
2026-11-11 07:001.00
2026-11-11 11:001.01
2026-11-11 15:001.00
2026-11-11 19:001.01
2026-11-11 23:001.02
2026-11-12 03:001.02
2026-11-12 07:001.02
2026-11-12 11:001.03
2026-11-12 15:001.02
2026-11-12 19:001.02
2026-11-12 23:001.02
2026-11-13 03:001.04
2026-11-13 07:001.02
2026-11-13 11:001.03
2026-11-13 14:001.04

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.