BTC Block put options volume skyrocketed today, with a notional value of over $500 million.
Two types of trades dominated —— one was a bear spread consisting of 55,000Put/50,000Put, and the other was orders below $45,000 to liquidate put option positions.
These Block trades validate our previous suspicions that there are spot whales buying Protective Put, and today's Block is all about shifting positions, updating previously protected options to higher priced protected puts.
Most of the recent options positions are designed to be combined with spot, and investors must not analyze them in isolation when observing the orders.
Two types of trades dominated —— one was a bear spread consisting of 55,000Put/50,000Put, and the other was orders below $45,000 to liquidate put option positions.
These Block trades validate our previous suspicions that there are spot whales buying Protective Put, and today's Block is all about shifting positions, updating previously protected options to higher priced protected puts.
Most of the recent options positions are designed to be combined with spot, and investors must not analyze them in isolation when observing the orders.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.