IBIT call volume surged to 1.58 million contracts as Bitcoin neared $80,000, marking aggressive bullish positioning in the ETF.
BlackRock’s iShares Bitcoin Trust (IBIT) saw call-option volume hit a record 1.58 million contracts on Aug. 19, driven by Bitcoin’s rally toward $80,000. The surge followed $1 billion in fresh inflows into IBIT over three days, signaling strong demand for upside exposure.
Call volume remained above 1 million contracts for three straight sessions, a sharp increase from the 138,000 to 393,000 daily average in early August. The three-day call skew rose 0.05, the largest jump in available data since January 2025, indicating heightened bullish sentiment.
Traders are paying premiums for IBIT calls as the crypto rally extends into options markets, though some activity may reflect hedging or multi-leg strategies rather than outright bets on higher prices.