Coincall Options Weekly: Calls Gain Momentum as September 25 Leads the Curve

During the week of September 7–13, 2026, Coincall recorded $136.63 million in total options trading volume. RFQ contributed $18.14 million, representing 13.28% of overall activity.

 

Call-side positioning moved into the lead, accounting for 55.97% of taker flow. Buy calls were the largest individual category at just over 30%, and BTC activity concentrated around the 82K and 78K strikes. The expiry curve also extended well beyond the front end, with October and December contracts attracting meaningful volume.

 

Coincall continued to support liquidity across a wide range of strikes and maturities during the week. Activity stretched from near-term September expiries into October and December, giving traders access to positioning further along the curve.

 

BTC activity was led by the 82,000 and 78,000 strikes, which generated almost $27 million in combined volume.

The strongest concentration appeared around 75K–83K, creating a clear area of BTC options activity. The 55K strikealso ranked among the top levels, showing continued positioning across a broad range of possible market outcomes.

 

ETH activity was led by the 3,200 and 2,900 strikes.

The 3,200 and 2,900 strikes accounted for the largest share of ETH activity, with additional positioning concentrated around 2,700–2,750. The 1,950 strike added another significant pocket of volume further down the strike range.

 

The September 25 expiry was the clear center of the curve, generating nearly $45 million in volume.

September 25 accounted for 32.76% of total weekly options volume.

 

The expiry distribution also showed meaningful demand further along the curve. October 30, October 2, and December 25 all ranked among the leading maturities, showing continued interest in longer-dated positioning.

 

Calls accounted for 55.97% of total taker volume during the week.

Buy calls were the largest individual flow category at 30.21%, giving the week a clear call-side tilt.

Call selling was also active at 25.75%, showing strong participation across call structures. Put activity remained closely balanced between buying and selling, with each accounting for around 22% of total taker flow.

 

The week was shaped by stronger call activity, concentrated BTC positioning around 75K–83K, and a clear focus on the September 25 expiry.

 

Buy calls led taker flow, and BTC activity clustered around several higher strikes. The expiry curve remained broad, with October and December contracts attracting meaningful volume alongside September maturities.

RFQ contributed $18.14 million, representing 13.28% of total options volume. Coincall continued to support activity across a wide strike range and longer-dated expiries, giving traders flexibility to structure exposure across different market horizons.

 

With the FOMC decision scheduled for September 16, it will be worth watching how volatility, strike demand, and expiry positioning adjust around the announcement. Any meaningful shift in rate expectations could quickly reshape short-term options flow and broader market positioning.