A trader is betting on a violent price swing by the end of March, buying a long strangle BTC options strategy.
BlockBeats News, January 7th, according to on-chain analyst Ai Auntie (@ai_9684xtpa), a trader has bet on a violent swing by the end of March. The trader bought 660 BTC at a price of $120,000 for a call option (approximately $860,000) and 660 BTC at a price of $80,000 for a put option (approximately $1,500,000) on Deribit, both expiring on March 27th this year.
The trader used a pure volatility strategy to buy a long strangle BTC option combination, betting that there will be a significant price swing in BTC by the end of March. They can profit regardless of whether the price goes up or down. If the price at expiration fluctuates slightly or remains flat in the range of $80,000 to $120,000, they will incur a loss, with a maximum loss of the entire premium of $2.36 million.
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