A trader buys a $3,400 call option at the end of September and sells a $4,400 call option at the end of September

According to TechFlow, LinChen, head of Asia-Pacific business at Deribit, tweeted that the largest ETH bulk option today was a trader who bought a $3,400 call option at the end of September (expiration exercise price) and sold a $4,400 call option at the end of September, totaling 2,500 ETH and paying a premium of $738,000.

It said that the trader bought the bull market spread of US$3,400-4,400 in September to reduce costs, and as long as the Ethereum price was greater than US$3,700 at expiration, it would be profitable.