According to ChainCatcher, Lin Chen, head of Asia Pacific business at Deribit, said in a post on X that a user bought a 95,000 call option at the end of the year and sold a 110,000 call option at the end of March next year, totaling 425 BTC and earning a premium of 399,000 US dollars.

Lin Chen said that buying a 95,000 call option is a reduction in position, which is equivalent to rolling it over to March next year and selling a higher 110,000 call option. The underlying logic is to hold spot and earn income by selling call options. The current currency-based income is 3.6% (about 6.6% annualized)