Ethereum options open interest fell 1.10% from the previous day to $5.51 billion, with calls accounting for 63.61% of outstanding positions. Calls also led daily trading volume, while a put option topped the ranking of individual contracts traded.

The market combined a decline in outstanding positions with a larger share of calls in both open interest and daily turnover. Put options nevertheless held prominent places among the most actively traded contracts, suggesting demand for downside exposure alongside call positioning.

As of November 15 at 12:20 UTC, Ethereum options open interest stood at $5.51 billion, down from $5.57 billion the previous day. Options trading volume totaled $2.05 billion.

Calls represented 63.61% of open interest and puts 36.39%. Across 24-hour trading volume, calls accounted for 61.45% and puts 38.55%.

Calls led both measures, although their share of trading volume was slightly below their share of open interest. Two of the three busiest contracts were puts, indicating that the overall call majority coexisted with activity in contracts offering downside exposure.

The contracts with the most open interest, in descending order, were the $3,200 call expiring December 25, 2026 on Deribit; the $2,200 call expiring December 25, 2026 on Deribit; and the $1,800 put expiring November 20, 2026 on Deribit.

The leading contracts by 24-hour trading volume were the $1,750 put expiring November 27, 2026 on Binance; the $2,000 call expiring November 16, 2026 on Binance; and the $1,600 put expiring December 4, 2026 on Binance.

[Editor's note] Options can be used to take leveraged exposure to an underlying asset or hedge existing positions. Calls give buyers the right to buy at a specified strike price, while puts give buyers the right to sell, subject to the contract terms. Open interest measures outstanding contracts and reflects the stock of positions remaining in the market.

Comparing call and put shares across open interest and trading volume helps distinguish accumulated positioning from recent trading activity. Rising open interest reflects an increase in outstanding contracts, but call and put shares alone do not establish traders' directional intentions: either type can form part of a hedge or a broader options strategy.

Enna Lee

Enna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to [email protected].