Ethereum options on Deribit

This page covers Deribit ETH inverse options only. The dashboard shows ETH contract quantities, USD open interest, mark implied volatility (IV), and Deribit's 30-day volatility index.

All options data Bitcoin options Expiry calendar Methodology

LiveData: Deribit · collected Oct 24, 17:21 UTC

ETH 30d IV (Deribit DVOL)

54.85%

Source candle: Oct 24, 17:21 UTC

Notional volume 24h (USD)

$196.7m

Coin quantity × expiry forward price

Open interest (USD)

$3.59b

794 listed instruments · notional value

Put/call volume ratio

2.24

By rolling 24-hour coin quantity

Put/call OI ratio

0.51

By USD open interest

Premium volume 24h (USD)

$4.5m

Deribit traded option premiums

Largest open-interest expiry

2026-12-25 · 61.6d

$1.44b USD notional

ETH index price

$2 317

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, 17:21 UTC

Expiry	Days left	Call volume 24h (ETH)	Put volume 24h (ETH)	Call OI (USD)	Put OI (USD)	P/C vol	P/C OI	Total OI (USD)
2026-10-25	0.6	8,907	25,558	$31.2m	$43.0m	2.87	1.38	$74.2m
2026-10-26	1.6	5,472	11,248	$34.7m	$47.3m	2.06	1.36	$81.9m
2026-10-27	2.6	1,138	2,635	$6.7m	$10.4m	2.32	1.54	$17.1m
2026-10-28	3.6	270	468	$623.1k	$1.1m	1.73	1.74	$1.7m
2026-10-30	5.6	2,533	5,566	$425.1m	$328.8m	2.20	0.77	$753.9m
2026-11-06	12.6	1,382	4,932	$32.0m	$45.0m	3.57	1.40	$77.0m
2026-11-13	19.6	956	379	$8.4m	$4.8m	0.40	0.58	$13.2m
2026-11-27	33.6	3,524	5,006	$268.0m	$94.1m	1.42	0.35	$362.1m
2026-12-25	61.6	1,135	2,294	$1.04b	$404.3m	2.02	0.39	$1.44b
2027-03-26	152.6	524	311	$379.3m	$127.3m	0.59	0.34	$506.6m
2027-06-25	243.6	90	84	$124.7m	$80.2m	0.93	0.64	$204.9m
2027-09-24	334.6	231	152	$37.5m	$23.5m	0.66	0.63	$61.0m

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 (ETH)Strike (USD)Puts (ETH)

171

800

7,341

18,333

341

1.2k

7,472

1.3k

5,457

1,387

1.4k

13,844

749

1.5k

16,993

620

1.6k

8,944

365

1.7k

13,831

2,430

1.8k

7,736

2,686

1.9k

5,069

10,378

9,930

1,614

2.1k

7,145

51,009

2.2k

10,038

34,007

2.3k

7,993

13,159

2.4k

13,049

31,079

2.5k

3,925

12,781

2.6k

3,198

7,834

2.7k

4,690

17,416

2.8k

3,485

7,171

2.9k

958

23,240

896

6,811

3.1k

69,665

3.2k

311

5,210

3.3k

14,521

3.4k

156

31,540

3.5k

3,444

3.6k

318

6,568

3.8k

113

16,825

529

6,628

4.2k

4,080

4.4k

3,345

4.5k

11,129

4.6k

3,517

4.8k

4,258

9,853

5.2k

2,132

5.5k

10,689

100

1,902

6.5k

3,957

2,889

2,606

1,938

10k

2,483

11k

1,145

ETH quantity, USD value, and premium

One inverse option contract represents 1 ETH. Deribit quotes its purchase price, or premium, in ETH and uses ETH for settlement. Strike prices use USD. The inverse option specifications define these units.

The strike bars show ETH quantity, while expiry-table open interest uses USD notional value. Hypothetical example: 100 ETH of open option quantity at a $2,500 forward price has $250,000 notional value. This amount does not identify the premium paid or the capital held as margin.

Deribit's ETH index supplies the settlement reference. The expiry table starts with the nearest date; the largest open-interest expiry can differ. The expiry calendar shows both dates and explains the 08:00 UTC expiry time.

Comparing ETH and BTC volatility

Implied volatility (IV) is the model volatility associated with an option price. Deribit DVOL gives each asset a 30-day horizon on an annual scale. A comparison requires matching source timestamps and horizons.

At-the-money (ATM) term points use actual listed expiries and the strike nearest each forward price. An ETH term point and a BTC DVOL reading can represent different horizons. Their difference alone does not establish a trade opportunity or price direction.

Mark IV does not show bid/ask IV, available order size, or execution cost. The methodology defines the chart calculations and source limits.

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