Deep Tide TechFlow News, Greeks.live posted on X stating that due to end-of-month changes, bulk options trading dominated Bitcoin options trading yesterday.
Bulk call options and bulk put options each accounted for 30% of the trading volume, mainly composed of four clearing bulk trades and several diagonal spreads.
The margin released by such a large-scale move by bulk traders was immediately bought into diagonal spreads to long volatility while taking on short-term tail risks to reduce costs.
Large investors believe that there is not much risk of a surge within a month, but there will be significant fluctuations before May.