Bitcoin Options Open Interest Climbs to Record $15B on Crypto Exchange Deribit
Trading in bitcoin (BTC) options listed on the cryptocurrency exchange Deribit is more popular than ever.
On Friday, the notional bitcoin (BTC) open interest, or the U.S. dollar value locked in active bitcoin options contracts, rose to a record high of $15 billion. The figure has more than doubled since late September, topping the $14.36 billion peak registered during the bull-market days of October 2021. Back then, BTC traded above $60,000; today it's about $37,200.
At press time, notional options open interest had dropped back to $13.8 billion. In contract terms, open interest stood at over 376,000 BTC, nearly double the October 2021 tally, but well short of the record 433,540 BTC of March this year. On Deribit, one options contract represents one bitcoin.
"We're excited to announce that we've just achieved a record-breaking $15 billion (ATH) in notional open interest in BTC options," Chief Commerical Officer Luuk Strijers said in an email. "This development underscores the increasing preference for options as a strategic tool among traders, whether for positioning, hedging, or leveraging the recent surge in implied volatility."
