Greeks.live: Large holders believe the risk of sharp price surges or crashes within a month is small, but significant volatility will occur before May.

TechFlow reported, Greeks.live posted on X stating that due to end-of-month adjustments, block trades dominated Bitcoin options trading yesterday.

Block call and block put options each accounted for 30% of trading volume, primarily composed of four clearing block trades and several diagonal spreads.

The margin freed by these large-scale block trades was immediately deployed into diagonal spreads to gain long volatility exposure, while taking on short-term tail risk to reduce costs.

Large traders believe the risk of sharp moves within one month is low, but significant volatility is expected before May.