Bitcoin bulls are waiting ahead of a huge batch of Bitcoin options headed toward expiry.

Roughly $15 billion in options contracts are set to expire on Friday in the market’s quarterly settlement.

The September 25 contracts account for more than a third of all bitcoin options open interest on crypto derivatives platform Deribit.

A call option gives the trader the right, but not the obligation, to buy the underlying asset at a set price on a future date. A put option gives the right to sell.

And traders appear to be leaning bullish heading into Friday.

The put-to-call ratio, a closely watched gauge comparing bets to sell against bets to buy, sits at 0.70. That means…

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