Total Options Trading Volume $235,324,685.31
RFQ Trading Volume $74,629,537.96
RFQ share of total options volume 31.71%
During the week of September 21–27, 2026, Coincall recorded $235.32 million in total options trading volume. RFQ contributed $74.63 million, representing 31.71% of overall activity.
October became the main focus of positioning. The October 30 and October 9 expiries generated more than $93 millionin combined volume, with November 27 also attracting significant activity. BTC trading concentrated around higher strikes, led by 86K, 83K, and 88K.
Taker flow remained closely balanced, with calls accounting for 51.61% of activity. Sell calls were the largest individual category at 27.32%, pointing to active premium-selling alongside broader positioning across the options market.
1. Most Traded BTC Strikes
The 86,000 BTC strike led weekly activity with more than $22.39 million in volume.
Rank | BTC Strike | Trading Volume |
|---|---|---|
1 | 86,000 | $22,397,244.91 |
2 | 83,000 | $15,734,005.12 |
3 | 88,000 | $14,620,784.71 |
4 | 73,000 | $14,322,016.37 |
5 | 75,000 | $12,012,296.25 |
Activity was spread across a broad range, with a clear concentration around the 83K–88K area. The 73K and 75K strikes also attracted substantial volume, showing active positioning across several BTC levels.
2. Most Traded ETH Strikes
ETH activity was concentrated around the 2,680 and 2,700 strikes.
Rank | ETH Strike | Trading Volume |
|---|---|---|
1 | 2,680 | $1,553,049.24 |
2 | 2,700 | $1,269,391.93 |
3 | 2,740 | $585,211.24 |
4 | 2,660 | $391,908.96 |
5 | 2,500 | $333,107.75 |
The two leading strikes generated more than $2.8 million in combined volume. Activity around 2,660–2,740 formed the clearest ETH positioning cluster of the week.
3. Most Active Expiries
October contracts dominated the expiry curve, with October 30 taking the top position.
Rank | Expiry | Trading Volume |
|---|---|---|
1 | October 30, 2026 | $47,525,868.53 |
2 | October 9, 2026 | $45,700,797.51 |
3 | November 27, 2026 | $33,830,933.30 |
4 | September 25, 2026 | $29,716,205.88 |
5 | October 2, 2026 | $20,290,436.18 |
6 | October 16, 2026 | $13,532,227.98 |
7 | September 23, 2026 | $9,648,831.10 |
8 | September 24, 2026 | $8,936,759.24 |
9 | September 22, 2026 | $7,193,049.18 |
10 | December 25, 2026 | $6,820,052.55 |
The October 30 expiry accounted for 20.20% of total weekly volume. October 30 and October 9 together represented almost 40% of activity.
November 27 also generated more than $33.8 million, extending the focus further along the curve. Trading activity reached into December and June 2027 contracts as well, showing continued participation across longer-dated maturities.
4. Taker Flow Breakdown
Call-side activity held a narrow lead at 51.61% of total taker volume.
Flow | Trading Volume | Share |
|---|---|---|
Buy Calls | $57,158,526.61 | 24.29% |
Sell Calls | $64,286,288.54 | 27.32% |
Buy Puts | $55,215,693.77 | 23.46% |
Sell Puts | $58,664,176.39 | 24.93% |
Sell calls were the largest individual category at 27.32%, followed by sell puts at 24.93%.
Overall flow remained tightly distributed across all four categories. The data points to broad participation across calls and puts, with option selling representing slightly more activity during the week.
5. Final Thoughts
The week delivered more than $235 million in options volume, with October becoming the main center of positioning.
The 86K BTC strike led strike-level activity, and the October 30 and October 9 expiries generated more than $93 millionin combined volume. November 27 also stood out, reinforcing the shift toward positioning further along the curve.
RFQ contributed $74.63 million, accounting for 31.71% of total options volume. Trading activity extended across OTM strikes and maturities reaching into November, December, and 2027, showing continued participation across a broad section of the options market.
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