Greeks.live: The encrypted options market has a 24-hour trading volume exceeding 1.2 billion US dollars, with Bitcoin put options accounting for a quarter of the total trading volume
In a message from ChainCatcher, Adam, a researcher at Greeks.live, posted on social media that with the continued rise of the cryptocurrency market yesterday, there was a large amount of block trading in the options market.
In the past 24 hours, the total turnover of the crypto options market exceeded $1.2 billion. Among them, Bitcoin put options had the highest turnover at $530 million, accounting for one quarter of total daily volume.
The largest single transaction had a nominal value of $66 million and specifically involved:
Selling 500 Bitcoin put options expiring on March 28th, 2025 with an exercise price of $40,000 each and implied volatility at 60.50%. Each option is worth 0.0130 BTC.
Buying 500 Bitcoin put options expiring on December 27th ,2024 with an exercise price of $40k each and implied volatility at 67.85%. Each option is worth .0042 BTC.
This deep out-of-the-money calendar spread trade shows that traders collected approximately $300k in premiums overall leaning bullish but it's hard to accurately judge specific trading intentions. According to Greeks.live analysis,the recent strength in sellers especially for puts has been advantageous pricing-wise even though buying puts costs less which suggests most participants are not optimistic about this direction.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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