Greeks.live： The largest bulk option trading today is buying BTC put options that expire on April 25th and have an exercise price of $60000

According to Adam, a macro researcher at Greeks.live, the largest block trading of cryptocurrency options today was buying BTC put options that expire on April 25, 2025, with an exercise price of $60000. The cumulative transactions exceeded 1000 BTC, with a nominal face value of nearly $100 million. Deep virtual value refers to low-cost extreme risk hedging or high leverage speculation, and profits need to fall by more than 30% in the current situation. The risk return ratio of this transaction is relatively low, and a premium of tens of thousands of dollars is more suitable as an "extreme risk hedging accessory" in the portfolio, rather than an independent speculative position. The quarterly delivery has just ended, and currently the main bulk trading is still focused on building and adjusting positions. This month, institutions have significantly strengthened their layout of put options, and large investors are not optimistic about the market this month. There have been more protective positions with deep virtual value.