Wintermute OTC trader: The premium of Bitcoin call options is relatively high compared to put options

At a higher level, options traders have driven up premiums for almost all contracts with maturities greater than one day, with bitcoin calls trading at a relatively high premium to puts, Jake Ostrovskis, an over-the-counter trader at Wintermute, wrote in a report on Monday. “This suggests that investors are using the options market more as a tool to capture potential upside than as a hedge against downside risk,” said David Lawant, head of research at FalconX. “For non-Bitcoin crypto assets, I think opinions are more divided. There is less consensus on how these alternative cryptocurrencies might perform under different election scenarios.” (Bloomberg)