Add as a preferred source on GoogleBitcoin Trader Buys 500 Month-End $90,000/$95,000 Bull Call Spreads
The spreads expire at month-end, with more than a week left before monthly settlement. The trade stood out against quieter activity focused on range-bound expectations.
A large trader bought 500 Bitcoin (BTC) bull call spreads expiring at month-end, using $90,000 and $95,000 strike prices as the monthly options settlement approaches.
The two strike prices are $5,000 apart, and the spreads share a month-end expiration. More than a week remained before monthly settlement when the trade took place.
The purchase stood out as an uncommon directional trade during a subdued stretch of the bull market. Much recent trading had centered on expectations that prices would remain within a range.
The contrast is the defining feature of the transaction: the buyer took a bullish options position amid range-focused activity. The trader may be positioning for a late-month market move.
Monthly options expiry is still more than a week away, leaving the position tied to the remaining days of October’s trading cycle in the Bitcoin options market.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.