Coincall Options Weekly: September Takes Center Stage in a $250M Options Week

During the week of August 31–September 6, 2026, Coincall recorded $249.60 million in total options trading volume. RFQ contributed $81.96 million, representing 32.84% of overall activity.

 

September expiries became the main focus of positioning, led by the September 25 contracts. Call-side activity also moved ahead, accounting for 55.66% of taker flow. BTC trading was concentrated across several higher strikes, with 82Kemerging as the most active level of the week.

 

BTC options activity was led by the 82,000 strike, followed by 83,000 and 86,000.

The leading strikes generated more than $61 million in combined volume. Activity around 82K–86K created the clearest concentration, with additional interest around the 74K and 76K levels.

This broad cluster of active strikes shows traders building BTC exposure across several levels as September positioning developed.

 

ETH options also recorded meaningful activity, led by the 2,800 strike.

The 2,800 and 2,150 strikes stood out, generating nearly $20 million in combined volume. Activity across 2,100, 2,150 and 2,250 also created a concentrated area of ETH positioning.

 

September dominated the expiry curve, with September 25 becoming the clear center of weekly activity.

The September 25 expiry accounted for 37.80% of total weekly volume. September 11 and September 4 followed, bringing the three leading expiries to more than 63% of total activity.

 

October 30 also attracted substantial volume, showing continued interest further along the curve alongside the strong September concentration.

 

Call-side activity accounted for 55.66% of total taker volume.

Buy calls were the largest individual category at 28.33%, closely followed by sell calls at 27.33%. This near-even split created active call-side positioning across both directions.

 

Put activity represented 44.34% of taker flow, with sell puts ahead of buy puts. Overall, the distribution showed broad participation across calls and puts, with a moderate preference for call structures during the week.

 

The week delivered nearly $250 million in options volume, led by strong September positioning and active BTC trading across the 74K–86K range.

 

The September 25 expiry became the standout maturity with more than $94 million in volume, and call-side flow reached 55.66% of taker activity. The close split between call buying and selling also points to active use of structured call strategies.

 

RFQ contributed almost $82 million, accounting for 32.84% of total options activity and continuing to support larger orders and structured execution across strikes and expiries.