Expiries, open interest and quotes across Deribit.
Ethereum (ETH) has a reference forward of $2,398.23 with $3.8B of options open interest across Deribit: $2B in calls and $1B in puts, a put/call ratio of 0.52, more call than put open interest. The largest expiry is 25DEC26 with $2B open and a max pain of $2,200.00. At-the-money implied volatility for 30OCT26 is 46.3%, and the term structure is upward-sloping, so the market charges more for longer-dated protection. Open interest alone does not reveal whether positions were bought or sold.
Some venue quotes are unavailable; open-interest totals may be incomplete.
| Expiry | Days | Calls OI | Puts OI | Put/Call | Max pain | ATM IV | Strikes | Venues |
|---|---|---|---|---|---|---|---|---|
| 23OCT26 | 1 | $112M | $140M | 1.26 | $2,460.00 | 43.2% | 34 | Deribit |
| 24OCT26 | 2 | $17M | $13M | 0.74 | $2,400.00 | 42.2% | 33 | Deribit |
| 25OCT26 | 3 | $6M | $5M | 0.79 | $2,420.00 | 37.4% | 31 | Deribit |
| 26OCT26 | 4 | $840K | $2M | 1.91 | $2,420.00 | 38.0% | 26 | Deribit |
| 30OCT26 | 8 | $430M | $339M | 0.79 | $2,500.00 | 46.3% | 42 | Deribit |
| 6NOV26 | 15 | $25M | $32M | 1.30 | $2,400.00 | 49.6% | 15 | Deribit |
| 13NOV26 | 22 | $4M | $2M | 0.58 | $2,350.00 | 49.4% | 14 | Deribit |
| 27NOV26 | 36 | $265M | $97M | 0.37 | $2,550.00 | 49.0% | 36 | Deribit |
| 25DEC26 | 64 | $1B | $434M | 0.40 | $2,200.00 | 50.1% | 44 | Deribit |
| 26MAR27 | 155 | $392M | $131M | 0.33 | $2,200.00 | 52.1% | 42 | Deribit |
| 25JUN27 | 246 | $129M | $83M | 0.64 | $2,400.00 | 52.7% | 43 | Deribit |
| 24SEP27 | 337 | $38M | $24M | 0.63 | $2,800.00 | 53.4% | 39 | Deribit |
| Strike | Calls OI | Puts OI | vs forward |
|---|---|---|---|
| 2000 | $36M | $79M | -16.6% |
| 2200 | $140M | $90M | -8.3% |
| 2300 | $99M | $141M | -4.1% |
| 2400 | $92M | $89M | 0.1% |
| 2500 | $162M | $49M | 4.2% |
| 2600 | $147M | $30M | 8.4% |
| 2700 | $70M | $32M | 12.6% |
| 2800 | $103M | $21M | 16.8% |
| 3000 | $177M | $7M | 25.1% |
| 3200 | $239M | $2M | 33.4% |
| 3500 | $103M | $2M | 45.9% |
| 4000 | $84M | $1M | 66.8% |
| Venue | Contract | Side | Size | Price | vs mark |
|---|---|---|---|---|---|
| Trade history is unavailable or incomplete. | |||||
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