Bitcoin Options: Options Market Shows Call Tilt Alongside $52.64 Billion Futures Open Interest

While Bored Ape Yacht Club floor prices have fallen steadily from their earlier peaks under Yuga Labs management, Bitcoin options positioning has moved in the opposite direction with calls claiming the larger share of open interest.

The September 14 coverage from Chain Articles placed calls at roughly 61.39 percent of options open interest against puts at 38.61 percent. That split reflects a clear preference for upside exposure rather than downside protection. Call volume reached about 18,892 BTC while put volume stood near 12,498 BTC on the same day.

Futures open interest added further context. The aggregate figure came in near 52.64 billion dollars or approximately 676,820 BTC. Binance accounted for 11.11 billion dollars of that total and CME held 8.45 billion dollars. Spot Bitcoin traded in the high 70,000s near 77,943 dollars according to the dated CoinGecko snapshot.

Price action and positioning

The 25-delta skew flipped positive around August 20 for the first time in roughly twelve months. That shift aligned with the later options data showing calls ahead of puts. Traders appear to have adjusted their books to favor higher strikes such as 80,000 dollars, 85,000 dollars and 100,000 dollars.

Aggregate funding stayed positive near 0.0066 percent while futures open interest rose about 2 percent. These readings sit alongside the options tilt and give a consistent picture of measured bullish lean without forcing a single narrative.

Market context

Bitcoin spot held its range in the upper 70,000s even as other assets showed mixed moves. Ethereum traded near 2,513 dollars and Solana near 101.92 dollars on the same CoinGecko print. The options market therefore reflected a targeted view on Bitcoin rather than a broad altcoin surge.

The contrast with Bored Ape Yacht Club remains instructive. BAYC floor levels declined through repeated market cycles while the collection maintained a smaller active trading base. Bitcoin derivatives, by comparison, continue to draw steady open interest across both options and futures venues.

What the numbers indicate

Call dominance at 61.39 percent does not guarantee price direction. It does show that market participants paid more for upside protection than downside protection on the cited date. The futures open interest level near 52.64 billion dollars provides the scale against which that options skew sits.

Traders watching the same boards noted the positive skew turn in late August as an early signal. The September 14 print confirmed the pattern had held into the options market. That sequence of observations matches the reported data from Phemex and Chain Articles without requiring additional assumptions.

The story stays on the chart and the open interest figures. Spot prices in the high 70,000s and the call-put split form the core record for this session.