Block trades are large option trades agreed off the order book and booked on Deribit. We put each block's legs back together: $765.9M in blocks Oct-22 UTC, 89 blocks; the largest of the day and the week, and block dollars per day since Aug-20 2019.
$765.9M in Deribit block trades, Oct-22 UTC · 89 blocks · BTC blocks $728.5M = 32.0% of Deribit's BTC option dollars · puts 48.4% of BTC block dollars · our own capture of Deribit's public trade tape, daily history through Oct-22 2026, measured and published by askthetape.com.
A block trade is a large option trade two parties agree away from the order book and then book on Deribit in one go — often several options at once: a spread, a straddle, a roll from one expiry to the next. Deribit prints every leg on its public tape with a block id. We keep that tape and put the legs back together, so a row here reads as one trade, not as scattered prints. Oct-22 UTC blocks carried $765.9M in 89 trades; on bitcoin that is 32.0% of all option dollars Deribit printed. Over the 7 closed days to Oct-22 blocks carried $7.47B, 48.1% of bitcoin's option dollars — 38% of the week's block dollars came on Oct-20 alone. This is flow, not a forecast: the page counts what traded and makes no call on where price goes next, in either direction.
| leg | own capture of Deribit's public trade tape: every option trade on BTC, ETH and the USDC-settled coins, pulled hourly (at :26 UTC) through Deribit's keyless public API on our production box and kept as printed; this page's numbers are rebuilt hourly with the site. First full day 2026-07-06; 10,133 blocks so far, 43.2% of them through Deribit's Block RFQ. |
|---|---|
| + and − | In the block feed each leg carries + or −. Deribit marks every trade with the side of its taker (its API documentation: "Trade direction of the taker"). In a block the two parties agree who takes that role; in Deribit's Block RFQ the taker is the side that asked for quotes. Checked on Sep-25: all 70 legs of the latest Block RFQ trades Deribit publishes carried the same sign in our tape. So + and − on a leg are the taker's side, and we print no single buy or sell for a whole block: for direct blocks the taker is not always the side that started the trade. |
| structure | Legs are grouped by Deribit's block id (a leg seen twice is counted once). Names come from the legs alone: expiry, strike, call or put, sign; iron condor only when both inner legs sit on the same side; two legs of unequal size are marked ratio. 814 blocks have more legs than options in this tape — the other legs (a future or perpetual hedge) are not in an options tape; such a block reads «+ N hedge legs» and «N option legs of M». |
| dollars | size of each leg in coins × Deribit's index price at the trade, all legs of a block added; the share of option dollars uses the same measure for every option trade on the tape. Coins settled in USDC count in their own coin. |
| days | UTC days by trade time, not by file. A day counts in the history only with all 24 hours in our capture; left out: Jul-07, Aug-11, Aug-18. The running day is on Tape (its sum so far, up to the last closed hour); the free view stops at the last closed day. Days before 2026-07-06 come whole from Deribit's public trade archive, grouped by block id the same way. |
| seam | Deribit's public trade archive → own capture since 2026-07-06 |
| what it is not | flow, not a forecast: the page says what traded and makes no call on price, in either direction. |
| cadence | tape pulled hourly at :26 UTC; this page and the block feed are rebuilt hourly with the site. The free view stops at the last closed day; the running day and the Tape plan's feed stop at the last closed hour (20:00Z Oct-23 in this build): 1.5–2.5 h behind the exchange. The Desk plan's feed carries each block's exact time up to our latest pull: 1–2 h behind |
| since | 2019-08-20 |
| neighbours | every option trade added up per day: /m/options-trades-tape/ · the whole board of BTC options: /m/btc-options-board/ |
| this build | data to Oct-22 2026 |
| policy | no backfill · read it here · export: from 2026-07-06 (rows before that day are the exchange's own archive and stay here) |
| hour, UTC | block · structure | legs | size | US dollars | note |
|---|---|---|---|---|---|
| Oct-22 · 14:00–15:00Z | BTC · call butterfly | 3 legs | up to 500 BTC a leg | $81.5M | direct block |
| Oct-22 · 19:00–20:00Z | BTC · call butterfly | 3 legs | up to 500 BTC a leg | $81.3M | direct block |
| Oct-22 · 05:00–06:00Z | BTC · put spread | 2 legs | 200 BTC a leg | $33.0M | direct block |
| Oct-22 · 09:00–10:00Z | BTC · put diagonal | 2 legs | 200 BTC a leg | $32.7M | direct block |
| Oct-22 · 07:00–08:00Z | BTC · call diagonal · ratio 1:2 | 2 legs | up to 200 BTC a leg | $24.7M | direct block |
| Oct-20 · 14:00–15:00Z | BTC · 5-leg block over 2 expiries | 5 legs | up to 3,000 BTC a leg | $581.2M | direct block |
| Oct-20 · 14:00–15:00Z | BTC · 5-leg block over 2 expiries | 5 legs | up to 3,000 BTC a leg | $581.0M | direct block |
| Oct-20 · 14:00–15:00Z | BTC · 5-leg block over 2 expiries | 5 legs | up to 3,000 BTC a leg | $580.9M | direct block |
| Oct-20 · 14:00–15:00Z | BTC · 5-leg block over 2 expiries | 5 legs | up to 3,000 BTC a leg | $580.7M | direct block |
| Oct-21 · 21:00–22:00Z | BTC · 24-leg block + 2 hedge legs | 24 option legs of 26 | up to 914.6 BTC a leg | $439.0M | direct block |
| BTC | $728.5M · 77 blocks | 32.0% of $2.28B option dollars | 7 days: $7.31B · 404 blocks | 48.1% of $15.20B | puts 48.4% of block dollars that day · 32.2% over the 7 days |
| ETH | $21.6M · 10 blocks | 8.3% of $261.8M option dollars | 7 days: $130.2M · 70 blocks | 8.2% of $1.60B | puts 72.2% of block dollars that day · 37.6% over the 7 days |
| AVAX | $0 · 0 blocks | 0.0% of $2.7M option dollars | 7 days: $0 · 0 blocks | 0.0% of $14.6M | puts 0.0% of block dollars that day · 0.0% over the 7 days |
| HYPE | $15.6M · 1 block | 87.8% of $17.8M option dollars | 7 days: $22.8M · 3 blocks | 64.4% of $35.5M | puts 0.0% of block dollars that day · 15.8% over the 7 days |
| SOL | $0 · 0 blocks | 0.0% of $8.3M option dollars | 7 days: $775.5K · 1 block | 1.1% of $70.9M | puts 0.0% of block dollars that day · 100.0% over the 7 days |
| TRX | $0 · 0 blocks | 0.0% of $233.6K option dollars | 7 days: $0 · 0 blocks | 0.0% of $2.7M | puts 0.0% of block dollars that day · 0.0% over the 7 days |
| XRP | $232.3K · 1 block | 13.0% of $1.8M option dollars | 7 days: $1.0M · 2 blocks | 4.6% of $22.1M | puts 0.0% of block dollars that day · 38.5% over the 7 days |
| 5-leg block over 2 expiries | $2.32B | 4 blocks | 31.1% of these dollars | ||
| 24-leg block + 2 hedge legs | $439.0M | 1 blocks | 5.9% of these dollars | ||
| 10-leg block | $420.1M | 2 blocks | 5.6% of these dollars | ||
| iron condor | $416.7M | 53 blocks | 5.6% of these dollars | ||
| put spread | $289.2M | 22 blocks | 3.9% of these dollars | ||
| 8-leg block | $279.3M | 2 blocks | 3.7% of these dollars | ||
| call diagonal | $261.4M | 29 blocks | 3.5% of these dollars | ||
| 23-leg block + 1 hedge leg | $249.7M | 1 blocks | 3.3% of these dollars | ||
| put calendar | $240.6M | 29 blocks | 3.2% of these dollars | ||
| single put | $211.8M | 41 blocks | 2.8% of these dollars | ||
| call butterfly | $199.2M | 5 blocks | 2.7% of these dollars | ||
| single call | $193.5M | 30 blocks | 2.6% of these dollars | ||
| the other structures | $1.94B | 261 blocks | 26.0% of these dollars |
The chart itself is drawn in the browser: turn JavaScript on to hover a day, pick a window and draw your line. The numbers above come from the last build, Oct-23 2026 21:24Z.
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