ETH Sees Major Bulk Option Transaction: User Sells $2,550 Call Option on 1,750 ETH for $289,000 Premium

On November 1, **COINOTAG** reported that Deribit officials released data highlighting a significant transaction in the **ETH** options market. A trader executed a large-scale sale of a **$2,550 call option** for **1,750 ETH**, set to expire on **November 22**, which resulted in a premium collection of **$289,000**. This strategic move suggests that the trader likely possesses a substantial amount of ETH and is utilizing call options as a hedging mechanism ahead of potential market volatility surrounding the upcoming election. Should the value of ETH remain under **$2,700** at expiry, the trader stands to gain from this position, yielding an effective profit equivalent to **5.45%**, translating to an impressive **16.6% annualized return**. Such transactions illustrate the complexities of options trading in the cryptocurrency sector, offering insights into institutional strategies and market sentiment.