Deep Tide TechFlow News, on October 29, Lin Chen, Head of APAC Business at Deribit, posted on Platform X stating that the largest BTC options trade today involved a user selling a $70,000 put option expiring at the end of January next year and buying a $60,000 put option, totaling 250 BTC, with a premium income of $1.043 million.

He stated that the user is bullish on BTC long-term, and if the Bitcoin price is above $66,000 at expiration, they will profit, with an annualized return of around 46%. If the Bitcoin price falls below $70,000 at the end of January next year, the user is willing to buy at that price, while also purchasing a $60,000 put option to hedge against extreme risk.