According to Odaily, macro analyst Adam from Greeks.live reported a major options trade involving the purchase of BTC put options expiring on April 25, 2025, with a strike price of $60,000. This transaction involved over 1,000 BTC, with a nominal value nearing $100 million. The deep out-of-the-money options serve as either low-cost extreme risk hedges or high-leverage speculative bets, requiring a price drop of over 30% to be profitable under current conditions.
Presently, large-scale trades are primarily focused on establishing and adjusting positions. Institutions have notably increased their focus on put options this month, indicating a bearish outlook among major investors. There is a noticeable rise in protective positions with deep out-of-the-money options.
