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Deribit’s open interest in Bitcoin call options at $100,000 upside hits nearly $1 billion
2024-10-01 11:20
Odaily News According to Deribit Metrics data, as of the time of writing, the total dollar value of active call option contracts with a strike price of $100,000 has exceeded $993 million, the highest of all Bitcoin options listed on the trading platform. The second-ranked call option is the $70,000 call option, with an open contract of more than $800 million. Call options account for more than 50% of Deribit's total $14.15 billion in BTC options open interest. Jake Ostrovskis, an over-the-counter trader at Wintermute, said, "The volatility surface shows that the market tends to be downward until the end of October/November, but then began to prefer call options rather than put protection. The current position indicates that the market is likely to rebound support after the election." Polymarket has only a 15% probability that the price of Bitcoin will rise to $100,000 by the end of the year. (Coindesk)