Quick Take
The Bitcoin options market is witnessing a surge not seen before, indicative of growing investor confidence and potential market trends. The Options Open Interest, which signifies the total funds allocated in options contracts, marked a record high on Nov. 10 with a notional value of $18.05 billion, equivalent to 491,000 BTC. The lion’s share of this momentum can be attributed to Deribit, contributing approximately $14.5 billion, according to Coinglass.
Options Open Interest: (Source: Coinglass)
Further, the options volume on Deribit, defined as the total volume transacted in options contracts within the last 24 hours, peaked at $2.62 billion, making it the second-highest recorded volume this year, according to Coinglass.
Options Volume: (Source: Coinglass)
Notably, the total open interest of both call and put options by strike price for a specific contract scheduled for Nov. 24th highlights a ‘call wall’ at $40,000. This represents 5,528 Bitcoin in terms of call optio
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