Today's largest BTC block option trade: A major investor sold 110,000 PUTs expiring at the end of June next year and bought 100,000 PUTs, totaling 800 BTC, earning a premium of 1.73 million. 💰 => Long-term holders sold the bear spread to collect interest, predicting that BTC would not fall below 110,000 by mid-next year. They also hedged their risk with 100,000 PUTs, a fairly conservative strategy.
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