BTC options expiring 11SEP26, 4 days out, with the forward at $79,387. Open interest is $1B in calls and $831M in puts, put/call 0.77, and max pain is $78,000. At-the-money implied volatility is 34.2%. Where a strike is listed on both venues the cheaper ask and richer bid are visible side by side; the arb scanner flags any gap that exceeds fees. Strikes shown are within 60% of the forward. All BTC expiries.