• Tue. May 30th, 2023

Bitcoin Options Open Interest Reaches All-Time High

Jul 29, 2020

Everything seems to be going in the favor of Bitcoin (BTC) now. Along with Bitcoin’s price surge to a new yearly high, Bitcoin Options open interest has also achieved a new milestone. According to the new report from the Skew Analytics firm, open interest for Bitcoin Options has reached a new all-time high.

Total BTC Options Interest Reaches Nearly $2 billion

Bitcoin Options’ open interest has reached the $1.85 figure which is the new all-time high. The total BTC Options open interest is about to hit the $2 billion mark. As the following graph shared by Skew shows:

Source: Skew

According to Skew, the Panama-based derivatives exchange Deribit is on the top in showing the more ratio of open interest in the Bitcoin options market. Deribit recorded 80% out of the total open interest. However, on the other hand, CME witnessed a decrease in its open interest.

BTC Options Trading volume also surges high

Apart from noticing a significant surge in the open interest rate, the Bitcoin options market has also witnessed a huge surge in the trading volume on July 27. This is also the highest-ever point of the options market. Bitcoin Options trading volume is standing above the $600 million figure as the below-given chart shows:

Source: Skew

The derivative exchange Deribit is also leading in the Bitcoin Options market in terms of trading volume as well. The Deribit exchange reported that its daily trading volume for Bitcoin options reached a new all-time high as the volume surged to $539 million on the same day.

Announcing the news on Tuesday in a tweet, Deribit said that a large number of 47,513 BTC was traded on its trading platform which is the all-time record value for the exchange. This number is more than double the last all-time high which occurred on the 10th of May in the month of halving. At that time, Deribit saw its trading volume in the Bitcoin options market rising to $196 million. 

According to the data from Skew, Deribit is currently holding approximately 90% of the entire BTC options trading volume.

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