BTC · Deribit

OI walls

Spot —
As of —
Top strikes by open interest — all expiries summed. Call wall = most written calls; put wall = most written puts. Not the same as max pain. Full buildup view: OI analysis.
Max pain
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PCR
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Top call wall
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Top put wall
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Call OI walls
StrikeCall OI% of calls
Put OI walls
StrikePut OI% of puts

How to read walls

Heavy call OI above spot is often talked about as resistance — writers may hedge by selling spot on rallies. Heavy put OI below spot gets called support for the same reason in reverse. Both can fail cleanly on news or liq cascades.

The strike with the most OI is not necessarily max pain. A wall can sit far from spot while max pain aggregates payout across every strike. Use both — see BTC max pain & PCR.