ETH Sees Major Bulk Option Transaction: User Sells $2,550 Call Option on 1,750 ETH for $289,000 Premium

WikiBit 2024-11-01 12:52

On November 1, COINOTAG reported that Deribit officials released data highlighting a significant transaction in the ETH options market. A trader

On November 1, COINOTAG reported that Deribit officials released data highlighting a significant transaction in the ETH options market.

A trader executed a large-scale sale of a $2,550 call option for 1,750 ETH, set to expire on November 22, which resulted in a premium collection of $289,000.

This strategic move suggests that the trader likely possesses a substantial amount of ETH and is utilizing call options as a hedging mechanism ahead of potential market volatility surrounding the upcoming election.

Should the value of ETH remain under $2,700 at expiry, the trader stands to gain from this position, yielding an effective profit equivalent to 5.45%, translating to an impressive 16.6% annualized return.

Such transactions illustrate the complexities of options trading in the cryptocurrency sector, offering insights into institutional strategies and market sentiment.

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