Definition. The net call and put premiums (paid minus received) over the past 24 hours across strike prices on major derivatives exchanges (Deribit, OKX, Binance).

Technical. Data updates every 10 minutes.

Interpretation. Negative values above spot typically indicate net call selling at those levels, suggesting traders are capping upside or generating income. Positive values below spot usually reflect net put buying, pointing to demand for downside protection. The breakdown helps reveal market positioning, demand skew, and potential hedging activity around key strikes.