Greeks.live: The options market for BTC and ETH is extremely active, with the market turning stronger

Macro analyst Adam from Greeks.live posted on platform X, stating that the market is turning stronger and BTC and ETH options are extremely active in the bulk market, with major players starting to diverge. Yesterday's largest single bulk transaction for ETH was a rollover with a nominal value of 17 million USD, selling 3000 held ETH-29MAR24-2800-C contracts while buying 3000 ETH-29MAR24-3000-C contracts, continuing to go long on Ethereum.

According to our previous tracking of large orders on Twitter, the opening cost of this position at the beginning of the month was about 200 thousand USD. Through this rollover, big players successfully recovered their principal and retained triple their original capital as profit to continue holding long positions.