Ethereum options open interest rose 9.34% from the previous day to $6.19 billion, while 24-hour trading volume totaled $1.44 billion. Calls accounted for most outstanding positions, but puts led daily trading volume.

The split showed different positioning across outstanding contracts and recent trading. Open interest leaned toward calls, while daily activity was weighted toward puts.

As of November 5, 2026, at 12:40 UTC, Ethereum options open interest stood at $6.19 billion, up from $5.66 billion the previous day. Trading volume over 24 hours reached $1.44 billion.

Calls represented 59.61% of open interest and puts accounted for 40.39%. By 24-hour trading volume, calls made up 47.03% and puts represented 52.97%.

The call majority in open interest contrasted with the put majority in daily volume. This pattern can be consistent with demand for downside protection alongside existing call positions, although the totals alone do not establish traders’ motives.

The contracts with the highest open interest, in order, were the $3,200 call expiring December 25, 2026, on Deribit; the $2,200 call expiring December 25, 2026, on Deribit; and the $2,000 put expiring November 13, 2026, on Deribit.

The leading contracts by 24-hour trading volume were the $2,500 call expiring November 6, 2026, on Binance; the $2,400 call expiring November 6, 2026, on OKX; and the $2,375 put expiring November 6, 2026, on Binance.

[Editor’s note] Options are derivatives used to take leveraged exposure to an underlying asset or hedge existing positions. Calls give holders the right to buy at a predetermined price, while puts give holders the right to sell, subject to the contract’s terms. Open interest measures outstanding contracts and indicates the size of accumulated positions.

Call and put shares, together with changes in open interest and volume, help distinguish accumulated positioning from recent trading activity. Rising open interest indicates an increase in outstanding contracts but does not establish a directional outlook. A call majority in open interest alongside a put majority in trading volume can reflect hedging or demand for exposure to volatility.

Enna Lee

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