XAUT Options

XAUT is trading at $4,360 with $40M of options open interest across Derive: $35M in calls and $5M in puts, a put/call ratio of 0.13, call-heavy, which usually reads as a market positioned for upside. The largest expiry is 30OCT26 with $21M open and a max pain of $4,500. At-the-money implied volatility for 25SEP26 is 23.4%, and the term structure is upward-sloping, so the market charges more for longer-dated protection. Data refreshes every five minutes from public venue APIs.

Price

$4,360

Total OI

$40M

Put/Call (OI)

0.13

ATM IV (25SEP26)

23.4%

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
18SEP26	6	$165K	$488K	2.96	$5,500	21.7%	19	Derive
25SEP26	13	$14M	$4M	0.26	$4,200	23.4%	21	Derive
2OCT26	20	$0	$0	0.00	$3,000	23.9%	11	Derive
30OCT26	48	$21M	$452K	0.02	$4,500	24.5%	18	Derive
25DEC26	104	$310K	$172K	0.55	$4,500	24.3%	18	Derive

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
4000	$52K	$1M	-8.3%
4200	$4M	$541K	-3.7%
4300	$60K	$107K	-1.4%
4400	$460K	$1M	0.9%
4500	$5M	$274K	3.2%
4600	$357K	$614K	5.5%
4800	$4M	$175K	10.1%
5000	$10M	$39K	14.7%
5200	$924K	$649	19.3%
5500	$1M	$218K	26.2%
6000	$8M	$0	37.6%
7000	$219K	$0	60.6%

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.