Coincall Options Weekly: November Positioning Builds as Volume Reaches $256M – Coincall

Total Options Trading Volume $256,465,991

RFQ Trading Volume $74,955,498.15

RFQ share of total options volume 29.23%

During the week of October 26–November 1, 2026, Coincall recorded $256.47 million in total options trading volume. RFQ contributed $74.96 million, representing 29.23% of overall activity.

Positioning shifted further along the curve, with the November 27 expiry emerging as the most active maturity of the week. December 25 and January 29 also attracted meaningful volume, showing continued interest in positions extending through year-end and into early 2027.

BTC activity was concentrated around the 75K–78K area, while put-side taker flow reached 57.01%. Sell puts were the largest individual flow category, giving downside premium strategies a notable role in weekly activity.

1. Most Traded BTC Strikes

The 75,000 BTC strike led the market with more than $19 million in trading volume.

Rank	BTC Strike	Trading Volume
1	75,000	$19,024,683.42
2	76,000	$15,266,542.24
3	77,000	$12,682,035.37
4	78,000	$12,144,165.80
5	70,000	$11,272,034.31

The strongest concentration appeared between 75K and 78K, where four adjacent strikes generated more than $59 million in combined volume.

The 70K strike also remained active, extending the main area of BTC positioning lower across the strike range.

2. Most Traded ETH Strikes

ETH activity was led by the 2,900 and 3,500 strikes, which recorded similar levels of volume.

Rank	ETH Strike	Trading Volume
1	2,900	$2,352,222.45
2	3,500	$2,285,401.38
3	2,150	$1,760,744.11
4	2,200	$1,557,954.63
5	2,240	$810,302.28

Activity was distributed across two broader areas, with positioning around 2,150–2,240 alongside meaningful participation at the higher 2,900 and 3,500 strikes.

3. Most Active Expiries

The November 27 expiry became the most active maturity, generating more than $57 million in trading volume.

Rank	Expiry	Trading Volume
1	November 27, 2026	$57,000,883.46
2	October 30, 2026	$50,181,496.48
3	December 25, 2026	$36,857,351.61
4	November 6, 2026	$18,952,402.23
5	October 31, 2026	$16,220,273.16
6	January 29, 2027	$11,955,957.48
7	November 13, 2026	$11,371,804.87
8	November 1, 2026	$9,722,824.11
9	November 3, 2026	$9,668,133.96
10	October 29, 2026	$7,999,783.37

November 27 accounted for 22.23% of total weekly options volume, followed by October 30 at 19.57%.

The December 25 expiry also generated nearly $37 million, while January 29 added almost $12 million. The distribution shows a broad mix of near-term positioning and longer-dated exposure extending into year-end and 2027.

4. Taker Flow Breakdown

Put-side activity represented 57.01% of classified taker flow during the week.

Flow	Trading Volume	Share
Buy Calls	$63,653,151.35	24.89%
Sell Calls	$46,268,409.48	18.10%
Buy Puts	$66,760,650.80	26.11%
Sell Puts	$79,010,092.32	30.90%

Sell puts were the largest individual flow category at 30.90%, followed by buy puts at 26.11%.

Calls accounted for 42.99% of classified taker activity, led by buy calls. Overall, put structures held the stronger share of the week’s flow, with both put buying and premium selling contributing meaningfully.

5. Final Thoughts

The week delivered more than $256 million in options volume, with positioning increasingly extending beyond the immediate expiry cycle.

The November 27 expiry led activity at more than $57 million, while December and January maturities also attracted meaningful participation. BTC trading concentrated around the 75K–78K strikes, creating one of the clearest strike clusters of the week.

Put-side taker flow reached 57.01%, led by sell puts, while RFQ contributed almost $75 million and represented 29.23%of total options activity.

Overall, the data points to active positioning across both near-term and longer-dated contracts as traders move further into November and begin building exposure toward year-end.