According to a recent report from COINOTAG on October 16, the Japanese firm Metaplanet Inc. has executed a strategic option roll-up that generated an income of 5.9 BTC. This transaction involved the repurchase of 223 put options at a strike price of $62,000, alongside the sale of an equal number of put options priced at $66,000, which are set to expire on December 27, 2024. This maneuver is indicative of Metaplanet’s intention to leverage Bitcoin’s volatility, aligning with its broader strategy to enhance long-term exposure to the cryptocurrency.
By selecting a higher strike price, Metaplanet aims to maximize its profit potential while bolstering its Bitcoin holdings. This move is consistent with the company’s objectives to strengthen its position in the cryptocurrency market and navigate towards profitability. Notably, the term roll up/down refers to the practice of closing an existing position and opening a new one at a different strike price, thereby allowing for more strategic trading opportunities.