Bitcoin options related to the U.S. election have attracted nearly $350 million in open contracts

The so-called election expiration options will expire and settle four days after the November 4th election, these options began trading on Deribit a month ago. As of now, data from Amberdata shows that the nominal value of open contracts or the dollar value of active option contracts is $345.83 million. Call options account for 67% of the total open contract volume, these options offer unlimited upside return potential but limited losses. The rest comes from put options which provide protection against price declines, resulting in a put/call ratio below 0.50. Algorithmic trading company Wintermute stated in a report shared with CoinDesk that these contracts specifically designed for elections allow investors to take advantage of increased interest by specifically predicting how elections will affect crypto markets. The current put/call ratio is 0.50, indicating bullish market sentiment; twice as many call options are traded as put options.