A trader bought a $3,400 call option at the end of September and sold a $4,400 call option at the end of September
On July 1, LinChen, head of Asia-Pacific business at Deribit, wrote that today's largest ETH bulk option: a trader bought a $3,400 call option at the end of September (expiration strike price) + sold a $4,400 call option at the end of September, totaling 2,500 ETH, paying $738,000 in premiums.
Lin said, "The trader bought the bull market spread of $3,400-$4,400 in September to reduce costs. As long as the Ethereum price is greater than $3,700 at expiration, it will be profitable."
