BlockBeats news, on October 26, according to The Block, Deribit CEO Luuk Strijers stated that derivatives traders are preparing for a bullish trend in Bitcoin a few days after the U.S. election on November 5.
Strijers stated: 'For the options expiring on November 8, the open contract value exceeds $2 billion, with major strike prices at $70,000, $75,000, and $80,000, and a put/call ratio of 0.55, indicating that the number of open call options is twice that of put options. Compared to Mark IV, the Forward IV has shown a significant increase, especially during the election week, suggesting that traders expect higher volatility. The forward implied volatility is 72.29%, indicating that prices may fluctuate around 3.78% in the days following the presidential election.'
Strijers added that the peak of implied volatility is temporary, indicating that the market does not expect long-term uncertainty. The 25 Delta Skew (put options - call options) is entirely negative, suggesting that the market anticipates a greater upward trend and bullish sentiment is increasing. Demand for call options is strong relative to put options, and investors are less concerned about managing downside risk.
