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

CointimeCointime2024/08/20 07:45
By:Cointime

According to the so-called election expiration options, settlement will be made four days after the November 4th election. These options have been trading on Deribit for a month. As of now, according to data from Amberdata, the nominal value of open contracts or the USD value of active option contracts is $345.83 million. Call options account for 67% of the total open interest, providing unlimited potential for upward returns but limited losses. The rest comes from put options, which provide protection against price declines, resulting in a put/call ratio of less than 0.50.

Algorithmic trading company Wintermute said in a report shared with CoinDesk, "These contracts designed specifically for the election allow investors to take advantage of increased interest by predicting how the election will affect the crypto market. The current put/call ratio is 0.50, indicating a bullish sentiment in the market, with twice as many call options traded as put options." (Coindesk)

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