Bitcoin Options Market Holds Steady, With Calls Dominating Open Interest

The Bitcoin options market showed little change on Sunday as open interest hovered near record levels. According to Coinglass, total Bitcoin options open interest (OI) was $25.33 billion, down just 0.04% from the prior day's $25.34 billion.

This stability in OI comes despite calls representing a significant portion of outstanding contracts, making up 60.39% of total OI versus 39.61% for puts. Over the past 24 hours, calls also dominated trading volume, accounting for 54.88% of activity while puts made up 45.12%.

The largest concentrations of open interest were found in major year-end and quarterly expiries on Deribit. The top OI strikes included the $80,000 call expiring Dec. 25, the $60,000 put expiring Dec. 25, and the $70,000 call expiring Sept. 25.

Notional trading volume over the past 24 hours was approximately $1.12 billion. The prominence of high OI in both an upper call strike and a lower put strike suggests traders are actively using options for both directional positioning and tail-risk hedging into key expiries.