Glassnode Unveils New Options Metrics for Crypto Traders
Zach Anderson Oct 04, 2025 08:06
Glassnode introduces a suite of options metrics that reveal capital commitments and trade initiations, aiding traders in assessing market positioning for BTC, ETH, SOL, BNB, and XRP.
Glassnode has unveiled a comprehensive suite of options metrics designed to provide deeper insights into market dynamics, according to Glassnode. This new suite aims to enhance the understanding of capital commitments and trade initiations, specifically focusing on options premiums and taker flows. This development is particularly significant for traders of Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Binance Coin (BNB), and Ripple (XRP), offering data that stretches back to 2021.
The Importance of Options Data
Options contracts offer a rich source of market data, embedding information such as strike prices, maturity dates, and implied volatility. This allows traders to gain insights into market expectations regarding future price movements. By analyzing these variables, traders can assess market trends, timing, and confidence levels.
Focus on Premiums and Taker Flows
The new metrics include an analysis of premiums—the capital involved in buying or selling an option—and taker flows, which differentiate between buyers and sellers. Premiums provide a clearer picture of the actual capital at risk, offering a more objective measure of market conviction. Taker flow data, on the other hand, reveals trade intent by identifying which side of the market—buyers or sellers—initiates trades, offering insights into market urgency and sentiment.
New Metrics Coverage
Glassnode's new metric suite covers key cryptocurrencies and provides historical data from major exchanges like Deribit, OKX, Bybit, and Binance. The suite includes several detailed analyses:
- Daily Options Premiums: Displays gross premium flow in USD, helping to gauge market directional bias.
- Options Net Premium Breakdown by Strike: Tracks net premiums across strike prices, highlighting key support and resistance levels.
- Options Net Premium Strike Heatmap: Visualizes net premium flows, indicating potential price action zones.
- Options Bull–Bear Index (BBI): Measures capital allocation to call or put buying, indicating market sentiment.
Future Developments
Looking ahead, Glassnode plans to expand its analytics suite by incorporating advanced metrics related to Implied Volatility, Open Interest, and Greeks. Additionally, they aim to provide more granular historical data and introduce new metrics for strike price probability and gamma exposure. These enhancements are part of Glassnode's commitment to becoming a leader in crypto derivative analytics.
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