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TechFlow reports, Lin Chen, Head of APAC Business at Deribit, said that today's largest ETH block options trade involved a trader receiving a premium of $500,000 for selling 2,500 ETH worth of call options at $3,450 strike price on August 2. The trader might be anticipating a "Sell The News" signal following the upcoming spot ETF launch next Tuesday. Judging from BTC's case, the market underwent approximately two weeks of pullback and shakeout.
Lin Chen, Head of Asia-Pacific Business at Deribit, stated that today's largest ETH block options trade involved a trader receiving a premium of $500,000 for selling 2,500 ETH worth of call options at $3,450 strike price expiring on August 2. This trader may be anticipating a "Sell The News" signal following the launch of the spot ETF next Tuesday. Judging from BTC's case, the market experienced about two weeks of correction and shakeout period.
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