Bitcoin (BTC) Options
$77,266+0.74% (24h)
BTC options open interest, put/call ratios, max pain and implied volatility.
$33.13B
Options Open Interest
425,494 BTC
$20.82M
24h Options Volume
950 listed contracts
0.55
Put/Call Ratio (OI)
volume PCR 0.75
$72,000
Max Pain (2026-09-25)
index $77,277
BTC 30-Day ATM Implied Volatility
Daily history of the 30-day at-the-money IV
Higher IV means options traders are pricing bigger Bitcoin moves.
BTC IV Term Structure
ATM implied volatility by expiry
| Expiry | ATM IV | Open Interest (BTC) | Strikes |
|---|---|---|---|
| 2026-09-12 | 14.6% | 903,739,275 | 27 |
| 2026-09-13 | 14.0% | 207,568,733 | 29 |
| 2026-09-14 | 21.1% | 182,473,443 | 27 |
| 2026-09-15 | 26.6% | 90,133,856 | 28 |
| 2026-09-18 | 34.1% | 1,313,420,123 | 22 |
| 2026-09-25 | 33.8% | 14,309,096,711 | 66 |
| 2026-10-02 | 34.4% | 46,618,751 | 18 |
| 2026-10-30 | 35.9% | 3,429,560,086 | 53 |
| 2026-11-27 | 37.8% | 454,977,107 | 45 |
| 2026-12-25 | 38.3% | 8,881,391,319 | 59 |
| 2027-03-26 | 39.5% | 2,521,609,337 | 51 |
| 2027-06-25 | 40.8% | 794,117,781 | 50 |
BTC Max Pain by Expiry
The strike where option holders lose the most at settlement
| Expiry | Max Pain | Call OI | Put OI | Total OI |
|---|---|---|---|---|
| 2026-09-12 | $78,000 | $726.45M | $177.29M | $903.74M |
| 2026-09-13 | $77,500 | $102.95M | $104.62M | $207.57M |
| 2026-09-14 | $77,000 | $73.03M | $109.45M | $182.47M |
| 2026-09-15 | $77,000 | $41.21M | $48.92M | $90.13M |
| 2026-09-18 | $78,000 | $723.62M | $589.80M | $1.31B |
| 2026-09-25 | $72,000 | $9.45B | $4.86B | $14.31B |
| 2026-10-02 | $78,000 | $20.60M | $26.02M | $46.62M |
| 2026-10-30 | $72,000 | $2.17B | $1.26B | $3.43B |
| 2026-11-27 | $79,000 | $313.17M | $141.81M | $454.98M |
| 2026-12-25 | $72,000 | $5.66B | $3.23B | $8.88B |
| 2027-03-26 | $70,000 | $1.61B | $912.58M | $2.52B |
| 2027-06-25 | $60,000 | $526.54M | $267.58M | $794.12M |