Add as a preferred source on GoogleBitcoin Wallet Buys 800 Derive Calls at $90,000 Strike for Nov. 6
The position carries about $68 million in notional value. Market pricing on Derive puts Bitcoin (BTC)’s chance of topping $100,000 before Christmas at 12%, up from 9.7%.
A wallet bought 800 Bitcoin (BTC) call options on Derive on Oct. 20, with a $90,000 strike and a Nov. 6 expiration. The position carries about $68 million in notional value.
Derive identified the trade as the largest open Bitcoin position on its platform. The wallet also netted about $940,000 by selling calls.
Market pricing on Derive put the chance of Bitcoin topping $100,000 before Christmas at 12%, up from 9.7%. That pricing implied some traders were positioning for Bitcoin to rise after the U.S. midterm elections.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.