RESEARCH: BTC Options Market Sees Massive Block Trades, Cumulative Block Call Options Traded Over $120 Million Throughout the Day

According to Adam, a macro researcher at Greeks.live, the Bitcoin options market has seen a massive volume of large trades, with more than 6,000 BTC worth of Bitcoin traded since 21:00 p.m., and more than $120 million in cumulative call options traded over the course of the day. Nearly 5,000 BTC of these trades have been for $92,000 to $100,000 in active buying of December 27 calls, and the buying continues. In addition to the high number of purchase orders, the premium for this wave of purchases is significantly higher than usual, roughly sweeping at more than double the cost of the premium. Analysis suggests that the giant whale is on the move.