Deribit’s open interest in Bitcoin call options at $100,000 upside hits nearly $1 billion

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 the total open contract of $14.15 billion in BTC options on Deribit. 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 over put protection. The current position indicates that the market is likely to rebound support after the election." Polymarket has only a 15% probability of Bitcoin's price rising to $100,000 by the end of the year. (Coindesk)