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Cumulative block trades in the options market totalled more than $1 billion today, with volume hitting a one-month high

Cumulative block trades in the options market totalled more than $1 billion today, with volume hitting a one-month high

Bitget2024/10/29 17:50

On 29 October, Greeks.live macro analyst Adam posted on the X platform that the options market hit a one-month high in volume today, with cumulative block trade totals exceeding $1 billion, fuelled by Bitcoin's price surpassing $72,000. Of that, call options turnover was about $700 million and put options turnover was about $300 million.

Of note is a proportional spread strategy trade: a large investor sold 250 calls with a strike price of $75,000 and bought 500 calls with a strike price of $90,000, indicating that he expects Bitcoin to either not reach new highs, or to hit $100,000 quickly if it does. This trading strategy saves about $13,000 in slippage by trading in bulk, demonstrating a bold and subtle market placement.

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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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