Solana (SOL) Options

Solana (SOL) is trading at $105 with $162M of options open interest across Deribit and Derive: $112M in calls and $51M in puts, a put/call ratio of 0.45, call-heavy, which usually reads as a market positioned for upside. The largest expiry is 25SEP26 with $110M open and a max pain of $86. Front-month at-the-money implied volatility is 52.3%, and the term structure is inverted, so near-term volatility is priced above longer-dated, which is typical around events or after a sharp move. Data refreshes every five minutes from public venue APIs.

Price

$105

Total OI

$162M

Put/Call (OI)

0.45

ATM IV (front)

52.3%

Open interest, max pain and ATM IV by expiry

Max pain is the expiry price that minimizes total payout to option holders, weighted by open interest. Click an expiry for the full chain.

Expiry	Days	Calls OI	Puts OI	Put/Call	Max pain	ATM IV	Strikes	Venues
8SEP26	1	$383K	$532K	1.39	$107	52.0%	30	DeribitDerive
9SEP26	2	$21K	$98K	4.65	$103	52.3%	30	DeribitDerive
11SEP26	4	$9M	$6M	0.62	$106	54.4%	60	DeribitDerive
18SEP26	11	$766K	$400K	0.52	$102	52.7%	59	DeribitDerive
25SEP26	18	$84M	$26M	0.31	$86	52.2%	62	DeribitDerive
30OCT26	53	$2M	$566K	0.33	$100	51.5%	84	DeribitDerive
25DEC26	109	$15M	$17M	1.11	$95	51.0%	71	DeribitDerive

Largest strikes by open interest

Across all expiries. Big call strikes above spot are where dealers are short gamma into a rally.

Strike	Calls OI	Puts OI	vs spot
76	$956K	$3M	-27.6%
80	$3M	$5M	-23.8%
86	$2M	$624K	-18.1%
90	$8M	$3M	-14.3%
94	$2M	$1M	-10.5%
95	$470K	$6M	-9.5%
98	$1M	$1M	-6.6%
100	$14M	$1M	-4.7%
105	$4M	$521K	0.0%
110	$9M	$413K	4.8%
125	$22M	$27K	19.1%
150	$15M	$4K	42.9%

Recent block trades

Prints over $50k on Derive and Deribit, last 24h, priced against Deribit's mark. Full tape.

Venue	Contract	Side	Size	Price	vs mark
No prints over $50k in the last 24h.