TechFlow News, LinChen, APAC Business Lead at Deribit, posted a tweet stating that today's largest ETH block options trade involved a trader buying 2,500 ETH worth of call options with a strike price of $3,400 expiring at the end of September, while simultaneously selling call options with a strike price of $4,400 for the same expiry, paying a total premium of $738,000.
He noted that the trader established a bullish vertical spread by purchasing the September $3,400–$4,400 call spread to reduce costs, and will be profitable at expiry as long as Ethereum's price exceeds $3,700.
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