A $3.2 million ‘bitcoin butterfly’ option trade bets on $95,000 by the end of October

A $3.2 million ‘bitcoin butterfly’ option trade bets on $95,000 by the end of October

Özet: Kripto piyasasında önemli gelişmeler yaşanıyor.

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Bitcoin’s BTC$85,911.61 rally has traders chasing upside exposure, with the most notable options trade of the past 24 hours pointing to expectations for a move toward $95,000 by the end of October.

The trade was a “long call butterfly,” an options strategy that benefits most when the underlying asset settles near a specified middle strike price at expiry.

30 expiry calls at $90,000 and $100,000 while simultaneously selling twice as many $95,000 calls.

The trade was executed via OTC desk Paradigm in five blocks, each consisting of 1,000 long $90,000 calls, 2,000 short $95,000 calls and 1,000 long $100,000 calls, according to data source Laevitas.

The combined position involved a net initial payment of $3.17 million.

The strategy makes the most money if bitcoin is around $95,000 at expiry and has positive gross payoff between $90,000 and $100,000.

Outside that range, the payoff is zero and the trader stands to lose the $3.17 million paid to establish the position.

In other words, the trader appears to be positioning for bitcoin to rise from roughly $85,000 to $95,000 over the next four weeks.

Analiz: Piyasa hareketliliği devam ediyor.