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

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