Bitcoin options on Deribit

This page covers Deribit BTC inverse options only. The dashboard compares mark implied volatility (IV), USD open interest, BTC quantities, premium volume, and expiry dates.

All options data Ethereum options Expiry calendar Methodology

LiveData: Deribit · collected Oct 24, 16:05 UTC

BTC 30d IV (Deribit DVOL)

39.6%

Source candle: Oct 24, 16:05 UTC

Notional volume 24h (USD)

$1.56b

Coin quantity × expiry forward price

Open interest (USD)

$31.13b

924 listed instruments · notional value

Put/call volume ratio

1.17

By rolling 24-hour coin quantity

Put/call OI ratio

0.60

By USD open interest

Premium volume 24h (USD)

$20.6m

Deribit traded option premiums

Largest open-interest expiry

2026-10-30 · 5.7d

$10.87b USD notional

BTC index price

$79 597

Deribit index

Some missing or invalid quantity and premium fields become zero during normalization; totals can omit those values. Zero or unavailable totals do not establish that no trading occurred.

Term structure — ATM implied volatility

At-the-money (ATM) implied volatility (IV) uses the strike nearest each expiry's forward price. Each point averages available call and put mark IV in percent. Different expiry dates can have different IV; the slope does not predict price direction.

Volatility by strike — 2026-10-27

Mark IV by strike for the nearest expiry with at least two rounded days remaining. Puts use amber; calls use blue. The bulk feed omits per-option delta, so this chart does not calculate 25-delta skew. The methodology defines the selection rules.

PutsCalls

Expiries — volume, open interest and put/call

Source: Deribit · collected Oct 24, 16:05 UTC

Expiry	Days left	Call volume 24h (BTC)	Put volume 24h (BTC)	Call OI (USD)	Put OI (USD)	P/C vol	P/C OI	Total OI (USD)
2026-10-25	0.7	1,837.7	1,947.9	$151.9m	$133.7m	1.06	0.88	$285.6m
2026-10-26	1.7	311.7	527.4	$90.9m	$100.6m	1.69	1.11	$191.4m
2026-10-27	2.7	133.3	196.3	$36.2m	$20.9m	1.47	0.58	$57.2m
2026-10-28	3.7	64.2	40.7	$5.1m	$3.2m	0.63	0.63	$8.4m
2026-10-30	5.7	2,161.6	1,987.8	$6.98b	$3.88b	0.92	0.56	$10.87b
2026-11-06	12.7	592.2	477.5	$685.0m	$314.6m	0.81	0.46	$999.6m
2026-11-13	19.7	172.2	180.8	$38.5m	$50.6m	1.05	1.31	$89.2m
2026-11-27	33.7	3,377.2	1,753.6	$1.84b	$1.11b	0.52	0.60	$2.95b
2026-12-25	61.7	211.3	3,283.2	$6.55b	$4.12b	15.54	0.63	$10.67b
2027-03-26	152.7	112	131	$2.12b	$1.36b	1.17	0.64	$3.48b
2027-06-25	243.7	30.6	23	$759.1m	$397.9m	0.75	0.52	$1.16b
2027-09-24	334.7	34.2	1.8	$196.3m	$175.1m	0.05	0.89	$371.3m

Days left rounds to 0.1 day from collection to 08:00 UTC on the expiry date. OI means open interest. P/C means put/call ratio. A dash means no positive OI value or an undefined ratio. The methodology explains missing-value limits.

Open interest by strike — calls vs puts

Expiry

Calls (BTC)Strike (USD)Puts (BTC)

0.3

40k

247.1

0.9

45k

357.3

8.5

48k

189.4

1.1

50k

500.6

0.1

52k

163.5

0.1

54k

291.8

0.1

55k

312.1

0.5

56k

483.5

0.1

57k

277.7

58k

361

59k

342.4

13.7

60k

1,489.5

17.7

61k

354.7

13.5

62k

1,353.8

144.3

63k

1,240.1

416.9

64k

1,297.7

301.7

65k

2,466.3

77.8

66k

1,474.1

108.4

67k

680.6

449.7

68k

2,012.6

582.6

69k

2,347.4

3,726.3

70k

4,389.2

939.4

71k

2,583.7

639.7

72k

2,717.5

573.5

73k

1,505.4

612.6

74k

1,286.7

1,214.2

75k

3,001.1

513.5

76k

2,108.9

197.6

77k

1,340.5

489.7

78k

1,758.2

251.1

79k

1,055.1

1,362.6

80k

1,651.2

1,113.4

81k

1,265.9

2,166.6

82k

1,065.3

1,215.4

83k

859.3

2,070.9

84k

952.7

3,323.7

85k

838.5

1,439.5

86k

445.6

1,289.3

87k

429

2,043.7

88k

924.8

1,466.4

89k

22.8

10,727.8

90k

45.2

2,037.6

91k

3.5

2,652.3

92k

2.6

1,259.4

93k

2.2

1,950.8

94k

19,947.8

95k

201.3

2,103.8

96k

0.4

1,878.7

98k

11,285.5

100k

1.3

549.4

102k

422.3

104k

1,669.7

105k

0.3

653.3

106k

1,315.9

110k

0.2

382.2

115k

34.6

BTC contract units and settlement

One inverse option contract represents 1 BTC. Deribit quotes its purchase price, or premium, in BTC; strike prices use USD. Settlement uses BTC and the BTC index reference. The inverse option specifications define these units.

The expiry table shows USD open interest. The strike bars show outstanding BTC quantity. USD open interest uses each expiry's forward price, which can differ from the displayed BTC index price.

Hypothetical example: 10 BTC of open option quantity has $1 million notional value at a $100,000 forward price. At a $110,000 forward price, the same quantity has $1.1 million notional value. That increase does not require new contracts.

Expiry order and mark IV

The expiry table starts with the nearest settlement date. The largest open-interest expiry can occur later and sets the initial strike-bar selection. The expiry calendar identifies both dates for BTC and ETH.

Implied volatility (IV) is the model volatility associated with an option price. At-the-money (ATM) IV uses the strike nearest each expiry's forward price. The bulk feed gives mark IV without bid/ask IV or order capacity. A mark reading does not establish an available execution price.

Deribit DVOL uses a 30-day horizon and an annual scale. The methodology separates this current index reading from PerpFinder's stored historical observations.

By PerpFinder editorial. Published July 16, 2026. Reviewed September 13, 2026 by PerpFinder review. How we test Report a correction