Bitcoin options open interest hits $37.36B with $85,000 call leading volume on Oct 12, 2026

Bitcoin options open interest reached $37.36 billion on Oct. 12, 2026, according to a report originally published by Pluang. The $85,000 Bitcoin call option recorded the leading trading volume cited in the report, placing that strike at the center of activity in the options market.

Bitcoin options are derivatives that give holders the right, but not the obligation, to buy or sell Bitcoin at a predetermined price before or at a set expiry date. A call option is generally associated with the right to buy the underlying asset. Open interest measures the value or number of outstanding contracts that remain open, rather than contracts that have already been closed or settled.

The reported $37.36 billion figure highlights the scale of capital committed to outstanding Bitcoin options positions. However, open interest alone does not establish whether market participants are uniformly bullish or bearish, since options positions can be used for hedging, income strategies, or other risk-management purposes. The prominence of the $85,000 call in volume indicates concentrated trading interest at that strike on the reported date.