Deribit bulk options: A user is bullish in the long term, selling a $70,000 put option for January next year and buying a $60,000 put option

Odaily News According to a post by Deribit's head of Asia-Pacific business, in today's largest BTC option transaction, a user sold a $70,000 put option for the end of January next year and bought a $60,000 put option, totaling 250 BTC, earning a premium of $1.043 million. He said that the user is bullish on BTC in the long term, and will make a profit if the Bitcoin price is greater than $66,000 at the time of delivery, with an annualized return of about 46%. If the Bitcoin price falls below $70,000 at the end of January next year, the user is willing to buy at that price and buy a $60,000 put option to hedge against extreme risks.