Get the latest crypto news, updates, and reports by subscribing to our free newsletter.
Giấy phép số 4978/GP-TTĐT do Sở Thông tin và Truyền thông Hà Nội cấp ngày 14 tháng 10 năm 2019 / Giấy phép SĐ, BS GP ICP số 2107/GP-TTĐT do Sở TTTT Hà Nội cấp ngày 13/7/2022.
© 2026 Index.vn
Bitcoin options open interest rose above $30 billion as traders focused on a high-strike $380,000 call expiring in late June, a rare focal point that highlighted how speculative upside bets can run alongside short-term hedging demand.
Data compiled by CoinGlass at 12:00 a.m. ET on Apr. 6 showed total BTC options open interest (OI) at $30.63 billion, up about 3.1% from $29.71 billion a day earlier.
The OI mix remained tilted toward calls—typically associated with bullish positioning—at 56.71%, compared with 43.29% for puts.
While the outstanding positioning was call-heavy, the most recent trading activity over the past 24 hours was different. BTC options volume totaled about $1.45 billion, with puts accounting for 53.41% and calls at 46.59%.
The split suggested that, despite a call-leaning structure in open interest, more recent flows skewed defensive—consistent with short-term protection buying or volatility-related trades rather than outright directional conviction.
By venue, Deribit led dollar-denominated options volume at roughly $809 million. Bybit followed with $392 million, then OKX at $255 million, CME at $241 million, and Binance at $243 million.
The venue mix pointed to continued dominance by Deribit in crypto-native options liquidity, alongside meaningful participation from CME, reflecting ongoing involvement from more traditional, regulated-market players.
The largest OI concentrations were clustered in longer-dated and widely watched strikes on Deribit. The biggest levels included a $120,000 call expiring Dec. 25, a $60,000 put also expiring Dec. 25, and an $80,000 call expiring May 29.
These “sticky” OI levels were described as potentially reflecting higher-conviction positioning or structured hedges that accumulate over time rather than purely tactical trades.
In contrast, the most actively traded contracts over the last day were more tactical and event-sensitive. The top contract by 24-hour volume was a $380,000 call expiring June 26 on Deribit.
Other leading contracts by volume included a $67,000 put expiring Apr. 24 on Deribit and a $68,500 call expiring Apr. 6 on Bybit.
The prominence of an extreme out-of-the-money June call was characterized as potentially reflecting low-premium “lottery ticket” positioning, volatility plays, or structured strategies using far-upside calls as overlays—rather than a straightforward forecast that bitcoin will reach that level by expiry.
Options can be used either for leveraged exposure to price moves or to hedge existing holdings. A call option generally expresses upside exposure, while a put option is commonly used for downside positioning or to protect against losses.
Open interest measures the number of outstanding contracts and is often used as a proxy for accumulated positioning and medium-term risk appetite. When OI rises while short-term volume skews toward puts, it can indicate that fresh positioning is being built even as traders simultaneously pay for near-term protection—suggesting a market that remains engaged but cautious about short-term drawdowns.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…