BTC: Options Block Trade Share (Deribit)
Shown as its 3 Oct – 1 Nov 2026 sample; the latest readings and full history are included with Plus.
The share of BTC option volume on Deribit that trades as block trades (sizes agreed away from the order book and reported to the exchange), by notional and by number of trades, each hour and each day.
Why use it. Block trades are how funds and other large traders do most of their option business. A rising share means more of the flow is large and negotiated rather than traded on screen; spikes mark days when big positions were opened or closed. How to read it. Share of notional: the block trades' notional as a percentage of all option notional in the period. Share of trades: block trades as a percentage of all trades. A notional share far above the trade share means a few very large blocks. Hourly values swing with single trades; the daily view is the steadier read.
Calculation. Each period: block-trade notional / all option notional (and block trades / all trades) over its hours, a ratio of sums, not an average of hourly ratios; a period without option trades has no value. Notional is contracts x the index price at the trade (one contract is one BTC). A multi-leg trade (a block of several legs or a combination order) counts once, with the notional of all its legs; a trade is a block when Deribit marks it with a block-trade id. Source: every Deribit BTC option trade, from Deribit's public trade history (complete from the first listed contract) and our own trade capture since 14 October 2026 13:00 UTC. OKX and Bybit are not included: OKX reports its block trades in a separate record that starts in September 2025, and Bybit's trade feed marks almost none as blocks, so their shares are not comparable yet. The open hour and day are labelled partials.