Bitcoin Options Open Interest Surges to $30.1 Billion
Bitcoin options open interest (OI) rose to $30.1 billion as of 9:40 AM KST on April 16, up 3.82% from the previous day's $29.0 billion, according to Coinglass. The total options trading volume reached approximately $4.53 billion. Call options accounted for 62.78% of OI and 68.45% of 24-hour trading volume, while put options represented 37.22% and 31.55%, respectively.
The clear dominance of call options in both open interest and volume indicates that medium-term positions and short-term trading flows are both skewed bullish. Market participants appear to be betting on further upside rather than hedging against downside risks.
Top Contracts by Open Interest and Volume
The contracts with the highest open interest were the $70,000 call (Deribit, July 31 expiry), followed by the $72,000 call (Deribit, July 31) and the $80,000 call (Deribit, December 25). In terms of 24-hour trading volume, the leading contracts were the $70,000 call (Deribit, July 31), the $72,000 call (Deribit, July 31), and the $66,000 call (Deribit, July 17).
The concentration of activity in near-term and mid-term call options suggests traders are positioning for a continued rally in Bitcoin's price over the coming weeks and months.
Understanding Options Data
Options are derivatives that allow investors to leverage bets on price movements or hedge existing positions. Call options grant the right to buy, representing a bullish stance, while put options give the right to sell, indicating bearish expectations. Open interest measures the total number of outstanding option contracts, reflecting accumulated positions.
A rise in open interest signals fresh capital inflow, typically associated with medium-term directional bets rather than short-term speculation. However, when put options dominate trading volume despite high call OI, it can indicate defensive hedging or volatility positioning. In this case, the consistent call-side dominance in both metrics points to a strong bullish consensus.