Daily digest / BTC / 2026-09-23 · this week
BTC · Wednesday 23 Sep 2026 (UTC) · close
$86,617
-1,766.5 (-2.00%)
2nd straight down day$36.2M liquidated
Asian-session sell-off, losses pared into the close
BTC slid $3,357 from $89,333 at 04:45 to $85,976 by 17:15 UTC. Put writers added the most fresh OI at $80,000 (+1,249 BTC). Call writers built positions at $86,000–$94,000, led by $86,000 (+415 BTC). Max pain moved from $76,000 to $78,000.
Spot
Max pain
PCR
15-min · UTC
Key levels for the next session
$95,000
Call wall · 31,693 BTC OI
resistance
$94,000
Fresh calls +313 BTC
cap
$89,000
Fresh calls +161 BTC
cap
$86,617
Close
●
$80,000
Fresh puts +1,249 BTC · Put wall · 8,724 BTC OI
support
$78,000
Max pain · Fresh puts +1,187 BTC
magnet
Where writers added today
■ calls ■ puts · OI change from the first snapshot to the close, strikes near spot
Move vs what options priced
Next-day ATM straddle at open · IV 36.6%$2,583
Session range$3,745
One session moved 1.4× the next-day straddle's full priced move.
Last 6 sessions
Reading these numbers
- Max pain is the strike where option buyers collectively lose the most at expiry. It often drifts with price.
- Fresh OI shows where option writers opened new positions during the session. Heavy put writing below price often marks a level sellers expect to hold; heavy call writing above marks a ceiling.
- PCR is put OI ÷ call OI, summed across every Deribit expiry. Crypto usually runs lower than Indian indices.
- Straddle vs range compares the ATM straddle price at the open (what options priced in) with the distance price actually covered.
Descriptive summaries of recorded option-chain positioning, generated automatically — not trading signals or advice.
Read the disclaimer →
Related reading
Max pain today →
Live aggregate max pain lander.
PCR today →
Current put-call ratio snapshot.
BTC vs index options →
How crypto expiry and settlement differ.