U.S. election-related Bitcoin options attract nearly $350 million in open interest

The so-called election expiry options, which are set to expire four days after the Nov. 4 election, began trading on Deribit a month ago. As of now, the notional value of open interest, or the dollar value of active options contracts, is $345.83 million, according to data source Amberdata. Call options, which offer unlimited upside return potential but limited losses, account for 67% of total open interest. The rest comes from put options, which offer protection from price declines, resulting in a put/call ratio below 0.50. In a report shared with CoinDesk, algorithmic trading firm Wintermute said, "These contracts designed specifically for elections allow investors to take advantage of increased interest by making targeted predictions on how the election will affect the crypto markets. The current put/call ratio is 0.50, indicating bullish market sentiment, with twice as many call options traded as put options." (Coindesk)