Odaily News Greeks.live macro analyst Adam wrote that the largest option block trade today was the purchase of a BTC put option with an expiration date of April 25, 2025 and an exercise price of $60,000. The cumulative transaction volume exceeded 1,000 BTC, with a nominal face value of nearly 100 million US dollars. The deep out-of-the-money is a low-cost extreme risk hedging or high-leverage speculation, and the profit needs to fall by more than 30% under the current circumstances.
At present, major block transactions are still dominated by building and adjusting positions. This month, institutions have significantly strengthened their layout of put options. Large investors are not optimistic about the market this month, and the number of deeply out-of-the-money protective positions has increased significantly.