BTC: Most-Traded Option Strike (Deribit)
Shown as its 3 Oct – 1 Nov 2026 sample; the latest readings and full history are included with Plus.
The strike of the BTC option with the most notional traded on Deribit each day.
Why use it. A single daily read of where option traders are focused relative to the price. How to read it. Compare the line with the price: a most-traded strike running above the price shows traders targeting higher levels, one sitting below it shows them buying protection or selling downside. The steps come from the grid of listed strikes.
Calculation. Each UTC day: notional (contracts x the index price at the trade) summed per strike over every expiry, then the strike with the highest total; when two tie, the lower strike. Source: every Deribit BTC option trade (the coin-settled contracts) from Deribit's public trade record, complete from the first listed contract, and our own copy of that record for the latest days. OKX and Bybit are not included: their trades are only available from our own capture, which starts on 14 October 2026 13:00 UTC.