The so-called election expiration options, which expire and settle four days after the November 4 election, began trading on Deribit a month ago. As of now, the notional value of unpositioned squaring contracts or the dollar value of active options contracts is $345.83 million, according to data source Amberdata. Call options account for 67% of the total unpositioned squaring contracts, which offer unlimited upside return potential but limited losses. The remainder comes from put options, which offer protection against falling prices, resulting in a put/call ratio below 0.50. Algorithmic trading firm Wintermute said in a report shared with CoinDesk that these contracts specifically designed for elections enable investors to capitalize on increased interest by making targeted predictions about how elections will affect the crypto market. The current put/call ratio is 0.50, indicating bullish sentiment in the market, with twice as many call options traded as put options.