Odaily Planet Daily News: Adam, a macro researcher at Greeks.live, stated in an article on X platform that today's largest option block trade was a Bitcoin Bear Ratio Diagonal Spread block trade. He sold 1024 BTC of the month's flat bullish value and bought 512 BTC of the next month's virtual bullish value, with a nominal face value of 130 million US dollars. Traders expect short-term volatility to be relatively overestimated, and the price of Bitcoin will not rise significantly before its expiration in the coming months.
This week, there has been a lot of activity in the bulk trading of options, mainly through mixed position adjustments. The structure of bulk orders is relatively complex, and it should be due to market makers and large investors adjusting their position structures. Recently, the decline in IV has been very rapid. On the one hand, large investors have taken advantage of the high IV to sell in large quantities. On the other hand, buyers have suddenly reduced their purchasing power, and market makers are also making targeted adjustments.
