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Trader intelligence for Derive: who is trading, what they hold, who is good, and what the rules say is mispriced. Built from public fills and quotes, refreshed every few minutes.

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Every number on the site is computed from public data by fixed rules; nothing is hand-picked except the wallets we say we follow. Nothing here is investment advice. Links to Derive may use Optionly's broker code, which pays Optionly a share of exchange fees at no cost to you. © 2026 Optionly.

Updated 3 Oct, 21:37 UTC · auto-checks every 5 min

Track the traders making money on Derive

Smart money (24 of 93 wallets whose returns hold up) is net long $19.5M HYPE. Cheap options: ZEC, CC, PUMP, VVV. Expensive: LIT.

Markets · 12swipe for more →
BTCoptions fair
$84,695+0.3%
IV 33% · RV 37%smart long $7M
ETHoptions fair
$2,685+1.0%
IV 46% · RV 40%smart short $1.7M
SOLoptions fair
$119.50+1.5%
IV 53% · RV 60%smart long $4.3M
XRPoptions fair
$1.49+0.8%
IV 60% · RV 66%smart short $510.5K
HYPEoptions fair
$89.46+3.7%
IV 58% · RV 67%smart long $19.5M
ADAoptions fair
$0.2448+2.3%
IV 87% · RV 80%smart short $21.3K
ZECoptions cheap
$1,314+2.2%
IV 127% · RV 150%smart short $1.2M
XAUToptions fair
$4,141-0.0%
IV 21% · RV 19%smart short $89.2K
CCoptions cheap
$0.1224+3.4%
IV 61% · RV 97%smart flat
LIToptions expensive
$3.57-0.5%
IV 112% · RV 89%smart flat
PUMPoptions cheap
$0.0063+21.1%
IV 107% · RV 207%smart long $1.6K
VVVoptions cheap
$28.15+1.7%
IV 105% · RV 132%smart flat

Smart money

24 of 93 wallets whose returns hold up · the five with the best 30-day P&L and 12+ weeks of history
How it's picked →
10x3bf6…3efbmarket maker+$4.3M 30d
all time
+$11M
on exposure
+2%
weeks up
63% of 16
max DD
-$2M
last sold 0.415 ETH perp 3 days agoall time +$11M+2% on exposure63% of 16 weeks upmax DD -$2Mlast sold 0.415 ETH perp 3 days ago
20xe492…d08cpremium seller+$676.6K 30d
all time
+$1.2M
on exposure
+5%
weeks up
69% of 16
max DD
-$203K
last sold 30 ETH 2.7k call, 16 Oct 26 2 days agoall time +$1.2M+5% on exposure69% of 16 weeks upmax DD -$203Klast sold 30 ETH 2.7k call, 16 Oct 26 2 days ago
30xb4b8…4df9premium seller+$519.8K 30d
all time
+$1.2M
on exposure
+25%
weeks up
69% of 16
max DD
-$231K
last bought 100 ZEC 1.5k put, 16 Oct 26 3 hours agoall time +$1.2M+25% on exposure69% of 16 weeks upmax DD -$231Klast bought 100 ZEC 1.5k put, 16 Oct 26 3 hours ago
40xd127…bf38two-way trader+$33.8K 30d
all time
+$48.3K
on exposure
+4%
weeks up
75% of 16
max DD
-$14K
last sold 16 ETH 2.7k call, 4 Oct 26 9 hours agoall time +$48.3K+4% on exposure75% of 16 weeks upmax DD -$14Klast sold 16 ETH 2.7k call, 4 Oct 26 9 hours ago
50xf56d…24cbspread trader+$21.3K 30d
all time
+$18.3K
on exposure
+2%
weeks up
53% of 15
max DD
-$16K
last bought 4 ZEC 1.7k call, 30 Oct 26 8 days agoall time +$18.3K+2% on exposure53% of 15 weeks upmax DD -$16Klast bought 4 ZEC 1.7k call, 30 Oct 26 8 days ago
KoolKrypto
Trade spotlight

The ETH $5,000–$7,000 call spread

at mark
-$161.4K

KoolKrypto bought 23,500 spreads for $898.2K, posted it on X, and 161 wallets followed. (@koolkrypto223) bought 23,500 ETH 26 Mar 5000/7000 call spreads for $898.2K and said so on X. 161 other wallets hold matching legs; 131 first appear in our fill history on or after the post.

ETH needs
+88% in 173d
Positions
51,099 · $1.6M
Spread now
$31.80 vs $38.22
Every entry →
spot 2.7k5.0k7.0k
Biggest Derive print, 24h
$75.4M notionalBought 888 BTC 89k call, 7 Oct 26 · $69K premium · package leg · 0x96b9…a701
Smart money, net
long $19.5MHYPE delta · long $7M BTC
Ideas, last 30 days
-14.3%on cost · 320 ideas · 43% profitable

Trade ideas

rule-based, not advice; each card shows what triggered it
Track record, last 30 days: 320 ideas, average -14.3% on cost, 43% profitable

Each idea is recorded the first time it fires and marked at the current mid every 15 minutes; expired legs settle at intrinsic. Return is per unit of the structure as a share of the entry cost, before fees. Ideas open for less than a day are not scored yet.

Pin risk
145 ideas · -38.5% · 27% profitable
Vol mispricing
86 ideas · -30.0% · 36% profitable
Gamma wall
65 ideas · +37.5% · 82% profitable
Followed wallet
24 ideas · +47.4% · 58% profitable
6 ideasswipe for more →
Followed walletBTC
@koolkrypto223

KoolKrypto bought the 4-leg BTC package

spot 85k86k87k88k89k
They paid
$225 · $200k for 888
Now
$254 (mark $123)
Their P&L
-$91k
Why this fires
Breakeven
$86,290 / $88,756
Best case
n/a
Traded
10-03 17:29 · $301.53M

Buy 1× BTC 86k call, 7 Oct 26, Sell 1× BTC 87k call, 7 Oct 26, Sell 1× BTC 88k call, 7 Oct 26, Buy 1× BTC 89k call, 7 Oct 26.

KoolKrypto (@koolkrypto223), a wallet we follow, paid $200k for 888 of them on Derive by RFQ (buy BTC 86k call, 7 Oct 26, sell BTC 87k call, 7 Oct 26, sell BTC 88k call, 7 Oct 26, buy BTC 89k call, 7 Oct 26) with BTC at $84,889. Large active book, about $1B notional and +$8M realized a month. Explained the ETH March-27 call-spread thesis on X on 11 Sep 2026.

Rule: Followed wallet traded $301.53M notional, 2026-10-03 17:29 UTC.

KoolKrypto's wallet →
Vol mispricingPUMP

PUMP options look cheap: buy a straddle

spot 0.010.000.000.01
Cost
$0 (18.5%)
Max loss
$0
Breakeven
$0.01 / $0.01
Why this fires
Move
±18.5%
Expiry
16 Oct · 12d
Trigger
IV 107% vs RV 207%

Buy the 16 Oct 0.0065 straddle on Derive.

PUMP has moved at 207% annualised over the last month (265% over the last week), but options are only pricing 107%. When the market moves more than options price in, owning options pays.

Rule: Implied 107% vs realized 207%, ratio 0.52 (rule fires below 0.85).

PUMP 16OCT26 chain →
Gamma wallXAUT

XAUT has a put wall at 4.1k for 9 Oct

spot 4.2k4.1k
Credit
$17.3 (0.42%)
Max gain
$17.3
Max loss
unlimited
Why this fires
Breakeven
$4,083
Expiry
9 Oct · 5.4d
Trigger
$2.08M OI at 4.1k, 1.3% below

Sell the 9 Oct 4.1k put on Derive.

$2.08M of open interest sits at 4.1k (mostly puts), 1.3% below spot, expiring in 5.4 days. Dealers hedging that strike sell as price approaches it from below and buy as it approaches from above, which tends to pin price near it into expiry.

Rule: Largest open interest within 5% of spot on the nearest expiry: 500 contracts.

XAUT 9OCT26 chain →
Followed walletBTC
@koolkrypto223

KoolKrypto sold the short BTC 82k call, 9 Oct 26

spot 85k82k
They paid
$3,137 · $157k for 50
Now
$2,993 (mark $3,017)
Their P&L
+$6k
Why this fires
Breakeven
$85,013
Best case
n/a
Traded
10-03 17:11 · $4.24M

Sell 1× BTC 82k call, 9 Oct 26.

KoolKrypto (@koolkrypto223), a wallet we follow, collected $157k for 50 of them on Derive by RFQ (sell BTC 82k call, 9 Oct 26) with BTC at $84,863. Large active book, about $1B notional and +$8M realized a month. Explained the ETH March-27 call-spread thesis on X on 11 Sep 2026.

Rule: Followed wallet traded $4.24M notional, 2026-10-03 17:11 UTC.

KoolKrypto's wallet →
Vol mispricingVVV

VVV options look cheap: buy a straddle

spot 28.2123.0028.0033.00
Cost
$5.22 (18.5%)
Max loss
$5.22
Breakeven
$22.78 / $33.22
Why this fires
Move
±18.5%
Expiry
16 Oct · 12d
Trigger
IV 105% vs RV 132%

Buy the 16 Oct 28 straddle on Derive.

VVV has moved at 132% annualised over the last month (82% over the last week), but options are only pricing 105%. When the market moves more than options price in, owning options pays.

Rule: Implied 105% vs realized 132%, ratio 0.79 (rule fires below 0.85).

VVV 16OCT26 chain →
Cross-venueBTC

The same contract is 13 bps cheaper on Derive than on Deribit

Edge
$112.08 (12.9 bps)
Size
5 · $560.4
Risk
leg risk
Why this fires
Trigger
>5 bps after fees

Buy on Derive at $10,590, sell on Deribit at $10,754.

The BTC 90k put, 26 Mar 27 is offered at $10,590 on Derive and bid at $10,754 on Deribit. After both venues' fees that is $112.08 per contract of locked-in edge.

Rule: 12.9 bps of forward after fees (rule fires above 5 bps).

Arb scanner →

Notable trades

Derive · Last 24h · Ranked by unusual activity

Full tape
  1. Bought888 × 4-leg BTC package

    $75.4M
    $199.8K net paid
    KoolKryptoupside buyer3 Oct, 17:29262× this wallet's usual size
    3 more
    • 38% win rate · -$515k this month
    • Followed wallet
    • 4-leg package, net debit
  2. Bought250 × bull call spread BTC 86k/88k 7 Oct 26

    $21.2M
    $104.7K net paid
    KoolKryptoupside buyer3 Oct, 17:2874× this wallet's usual size
    3 more
    • 38% win rate · -$515k this month
    • Followed wallet
    • 2-leg package, net debit
  3. Bought2,500 × bull call spread HYPE 110/140 25 Dec 26

    $224.7K
    $8.1K net paid
    0x5323…fb78spread trader3 Oct, 00:237× this wallet's usual size
    2 more
    • 0% win rate · -$25k this month
    • 2-leg package, net debit
  4. Bought100 ZEC 1.5k put, 16 Oct 26

    $129.7K
    $26.4K premium
    0xb4b8…4df9premium seller3 Oct, 18:5116% from spot
    2 more
    • 66% win rate · +$520k this month · on the smart money list
    • smart-money wallet
  5. Bought100 ZEC 1.4k put, 16 Oct 26

    $129.4K
    $22.9K premium
    0xb4b8…4df9premium seller3 Oct, 18:4112% from spot
    2 more
    • 66% win rate · +$520k this month · on the smart money list
    • smart-money wallet

Open interest and flow

nearest expiry by strike · net premium by expiry, 24h

swipe →
BTC 4OCT260.4 days
spot $84,695 max pain $86,000 wall $83,000
ETH 4OCT260.4 days
spot $2,685 max pain $2,675 wall $2,675
← Net soldNet bought →

Premium bought minus premium sold, measured from the side initiating each trade. These are option payments, not profit or loss. Last 24 hours; trades of at least $50k notional.

Alerts

whales, smart money, followed
Smart money3 Oct 18:51
Bought 100 ZEC 1.5k put, 16 Oct 26 @ $264.46
$129.7K notional, $26.4K premium · 0xb4b8…4df9, premium seller
Smart money3 Oct 18:41
Bought 100 ZEC 1.4k put, 16 Oct 26 @ $228.58
$129.4K notional, $22.9K premium · 0xb4b8…4df9, premium seller
Smart money3 Oct 18:38
Bought 200 ZEC 1.4k put, 9 Oct 26 @ $152.00
$259.1K notional, $30.4K premium · 0xb4b8…4df9, premium seller
Whale3 Oct 17:40
Bought 10 BTC 87k call, 9 Oct 26 @ $475.55
$849.3K notional, $4.8K premium · 0x3d49…006b, wing buyer
KoolKrypto (@koolkrypto223)3 Oct 17:29
Bought 1,138 BTC 86k call, 7 Oct 26 @ $492.76
$96.6M notional, $560.8K premium · 0x96b9…a701, upside buyer
KoolKrypto (@koolkrypto223)3 Oct 17:29
Sold 888 BTC 87k call, 7 Oct 26 @ $214.92
$75.4M notional, $190.8K premium · 0x96b9…a701, upside buyer

Who is positioned how

Cohorts →
Whale
+$19.7M
Leviathan
-$35.7M
Shrimp
+$46.4K
Smart money
+$24.8M
perp trader
-$53.6M

Net delta in dollars, 30 days; the bar is net as a share of gross.

Trending wallets

most traded in 24h
Leaderboard →
KoolKryptofollowedupside buyer$408.4M 24h
15 fills, 100% optionstoday -$828K30d -$515K
0x0ac1…ad0awing buyer$7.7M 24h
10 fills, 100% optionstoday -$4K30d +$2K
0x15ef…51f3perp trader$2.7M 24h
464 fills, 0% optionstoday +$1K30d -$22K
degen420.ethtwo-way trader$2.7M 24h
2 fills, 100% optionstoday -$38130d -$2K
0x3d49…006bwing buyer$2.5M 24h
6 fills, 100% optionstoday -$5K30d -$3K
0x5323…fb78spread trader$2.2M 24h
335 fills, 88% optionstoday -$2K30d -$25K
Data timing

This page was calculated at 3 Oct, 21:37 UTC and checks for updates every 5 minutes while visible. Scheduled updates: quotes every minute; trade sync and alerts every 5 minutes; wallet statistics, cohorts and idea results every 15 minutes; wallet performance hourly.

Individual sources can be older than the page, and a check can return the same cached page while a newer version is prepared. Automatic checks pause in hidden tabs and catch up when you return.

Calculations and trade ideas use fixed rules and templates, not AI.

How to read this page

Market prices, open interest, volatility signals and flow on this page come from Derive. The biggest print is the largest contract execution or same-second sweep by underlying notional, before notable-trade ranking; a package leg is not the whole spread. Premium is the amount paid for the option. Deribit supplies comparison prices and the cross-venue scanner. Implied is the at-the-money vol interpolated to 30 days from the Derive chain; realized is the annualised standard deviation of daily index moves over the last 30 days. Below 0.85× we call options cheap, above 1.25× expensive. Smart money is the top quarter of wallets by risk-adjusted 90-day results, among those that made at least $5k and traded in the last two weeks, with market makers removed; "smart long" on an asset chip is their net delta. Ideas are generated by fixed rules from these numbers, not by a person or a model; payoff diagrams are per unit at expiry and ignore fees. Notable trades are ranked by size against the wallet's usual size, distance from spot, smart-money or followed status, price versus Deribit's mark, and package legs. Alerts are aggressor fills over $250k notional in options (with at least $2k premium) or $1M in perps, over $50k by a smart-money wallet, or over $10k by a wallet we follow by hand; market makers are left out of the whale rows. The same rules feed the Telegram alerts.