User Earns $1.479M in Largest BTC Block Option Trade on Deribit, Bets on Bitcoin Hitting $90K by Year-End

COINOTAG news reported on September 28, based on block trading data from Deribit. The platform’s largest BTC block option trade today had a user netting $1.479 million. This investor purchased a $90,000 Bitcoin call option set to expire at year’s end and sold a $62,000 put option for the same timeframe. This transaction involved a total of 488 BTC. According to Deribit officials, the strategy illustrates a long-term bullish stance, anticipating a significant Bitcoin price increase by the end of the year. For this trade to be profitable, Bitcoin must surpass the $60,000 level at delivery.