Options Open Interest for BTC and ETH
Open Interest is the number of open (not yet closed) options contracts at each strike and expiry. Large OI clusters shape the options levels.
What is open interest
Open Interest (OI) is the number of contracts still open — not yet closed or expired. Unlike volume (how much traded in a period), OI shows how many positions are actually live in the market right now.
Rising OI means new positions are opening; falling OI means they are closing. The distribution of OI across strikes shows where the biggest options money sits.
Open interest by strike and levels
The largest OI clusters form the Call Wall and Put Wall and drive Max Pain and the GEX profile. So the open-interest-by-strike map is the basis for finding BTC options support and resistance.
In Crypto Metrics Pro, Deribit options open interest for BTC and ETH feeds the GEX, Gamma Flip and Max Pain calculations, refreshed every 60 seconds.
FAQ
Volume is how many contracts traded in a period; open interest is how many positions are open right now and not yet closed.
Large OI clusters form the Call/Put Walls, Max Pain and the GEX profile — the key BTC options levels.
See Open Interest live for BTC and ETH in the GEX Terminal module.
Open moduleOther terms
Information is for analytical and educational purposes only and does not constitute investment advice. Cryptocurrency trading carries high risk.