Options Intelligence
Deribit BTC and ETH options open interest by strike and expiry, max pain, and the DVOL implied volatility index.
BTC Options
$81,664
Spot price
428K BTC
Total open interest
0.56
Put/call ratio
34.8
DVOL
30-day implied volatility
$77,500
Nearest max pain
expiry 2026-09-19
As of 2026-09-18 18:00 UTC. Deribit, polled every 15 minutes.
| Expiry | Max Pain | OI | P/C Ratio |
|---|---|---|---|
| 2026-09-19 | $77,500 | 5K | 0.47 |
| 2026-09-20 | $78,000 | 2K | 0.93 |
| 2026-09-21 | $78,500 | 995 | 0.74 |
| 2026-09-22 | $78,000 | 577 | 0.29 |
| 2026-09-25 | $72,000 | 190K | 0.55 |
| 2026-10-02 | $78,000 | 10K | 0.63 |
| 2026-10-09 | $77,000 | 2K | 0.33 |
| 2026-10-30 | $73,000 | 50K | 0.60 |
| 2026-11-27 | $78,000 | 8K | 0.55 |
| 2026-12-25 | $72,000 | 116K | 0.58 |
ETH Options
$2,607
Spot price
1.8M ETH
Total open interest
0.53
Put/call ratio
50.6
DVOL
30-day implied volatility
$2,520
Nearest max pain
expiry 2026-09-19
| Expiry | Max Pain | OI | P/C Ratio |
|---|---|---|---|
| 2026-09-19 | $2,520 | 36K | 1.11 |
| 2026-09-20 | $2,520 | 16K | 1.40 |
| 2026-09-21 | $2,500 | 23K | 0.51 |
| 2026-09-22 | $2,560 | 5K | 2.37 |
| 2026-09-25 | $2,200 | 769K | 0.58 |
| 2026-10-02 | $2,500 | 32K | 0.54 |
| 2026-10-09 | $2,500 | 6K | 1.59 |
| 2026-10-30 | $2,400 | 146K | 0.84 |
| 2026-11-27 | $2,500 | 47K | 0.49 |
| 2026-12-25 | $2,200 | 525K | 0.38 |
What this data is
Options and volatility
Deribit clears most of the crypto options market, so its order book is the market. Every fifteen minutes this page snapshots open interest and volume for each listed strike and expiry, then works out the levels that matter: where the calls and puts are stacked, the put/call ratio, and the strike at which the most options expire worthless, called max pain.
DVOL is Deribit's implied volatility index, the crypto equivalent of the VIX. It's the market's estimate of how much bitcoin or ether will move over the next thirty days, expressed as an annualized percentage. A DVOL of 60 implies a daily move of about 3.1%.
Open interest walls at round strikes act as magnets into expiry, especially on the last Friday of the month when the large quarterly and monthly contracts settle at 08:00 UTC.
Source and method
- Source
- Deribit public API (book summary, instruments, DVOL)
- Updates
- Options snapshot every 15 minutes; DVOL hourly at ten past the hour. Last update 2026-09-18 18:00 UTC.
- History
- 12 June 2026 for the strike-level snapshots; DVOL history from March 2021.
- Coverage
- 1,528 listed BTC and ETH instruments in the latest snapshot.
- Get the data
- JSON API and CSV download30 requests a minute without a key, 120 a minute with a key from a free account.
Data checks. Every dataset is checked against its source once a day. This dataset passed the last run, 18 Sep 05:40 UTC.
How to read it
- A put/call ratio far from its recent range is a crowd positioned one way. Below 0.5 is complacent; above 1.0 is defensive.
- Compare DVOL with realized volatility over the last month. When implied sits well above realized, options are expensive and sellers have the edge; the reverse favors buyers.
- Max pain matters in the final days before a large expiry and almost never before that.
Analysis of what the data shows, not advice. XOOMAR does not recommend buying, selling or holding anything.
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Frequently Asked Questions
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Data on this page is provided for informational purposes only and is not financial advice. See our editorial policy.