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Deribit: A certain options trader bought 20,000 BTC bullish condor spreads, with bullish BTC prices expected to be in the range of $106,000 to $112,000 by the end of the year.
Odaily News Deribit APAC Business Head LinChen stated that a certain options trader bought 20,000 BTC in long bullish condor spread, expecting BTC to rise to 106,000 to 112,000 by the end of the year: buying the end of year 100,000 calls; selling the end of year 106,000 calls; selling the end of year 112,000 calls; buying the end of year 118,000 calls. Odaily Note: Bullish Condor Spread, an options combination strategy, uses four options contracts with four different strike prices, applied in scenarios where the underlying asset is expected to rise moderately but with limited upside, specifically buying the options at the lowest and highest strike prices and selling the options at the two middle strike prices.