[Bit Options Trends] Open interest $2.647 billion... 24-hour trading put options slightly ahead

Bitcoin options expiring on Deribit on November 6 carried $2.647 billion in notional open interest across 34,805 contracts, with calls at 25,331 contracts versus 9,474 puts, a put/call ratio of 0.37 that signals bullish positioning. Over the prior 24 hours, however, put options slightly outpaced calls, indicating demand for short-term downside protection even as the expiring book leans strongly toward upside bets. The split matters because it shows traders hedging near-term risk while keeping longer-dated exposure skewed to gains. Watch whether the 24-hour put volume lead persists into the expiry and whether the low put/call ratio holds as the contracts settle.