Call Wall & Put Wall for BTC and ETH
The Call Wall is the strike with the largest call open interest above price (resistance); the Put Wall is the strike with the largest put OI below price (support).
What are the Call Wall and Put Wall
The Call Wall is the strike with the most call open interest above the current price. Market-maker hedging around it tends to slow rallies, so the Call Wall acts as resistance and a ceiling in positive-gamma regimes.
The Put Wall is the strike with the most put open interest below price. It acts as support: protective positioning and hedging buys concentrate at this level.
How to use options walls
Call/Put Walls are key intraday references, often used as range boundaries (sell near the Call Wall, buy near the Put Wall) together with the Gamma Flip and Max Pain. Walls shifting as open interest grows hints where the expected range is moving.
In Crypto Metrics Pro the Call Wall and Put Wall for BTC and ETH are computed from Deribit open interest and marked on the GEX Terminal chart.
FAQ
It is the strike with the largest call open interest above price; it often acts as resistance in positive-gamma regimes.
The Put Wall is the strike with the most put OI below price (support); the Call Wall is the most call OI above price (resistance).
See Call Wall & Put Wall live for BTC and ETH in the GEX Terminal module.
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Information is for analytical and educational purposes only and does not constitute investment advice. Cryptocurrency trading carries high risk.