Bitcoin options open interest reaches $1.15 billion as 24-hour puts lead

Bitcoin options expiring Oct. 23 showed bearish positioning, while puts also narrowly outpaced calls in 24-hour trading. Put demand led both open interest for the Oct. 23 expiry and recent trading, while higher-strike calls dominated positioning across all expiries. As of 11:41 a.m. on Oct. 16, open interest in Bitcoin options expiring Oct. 23 totaled 13,773 contracts, with a notional value of about $1.15 billion. Call open interest stood at 6,149 contracts and put open interest at 7,624, producing a put-to-call ratio of 1.24. A put-to-call ratio below 0.7 to 0.8 is generally viewed as bullish, while a reading above 1 is considered bearish. The current ratio of 1.24 indicates stronger demand for downside protection.

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