TechFlow reports, according to LinChen, APAC head at Deribit, today's largest ETH block options trade involved a user buying September-end $2,600 call options and selling $3,000 call options, totaling 14,411 ETH, with a premium payment of $1.91 million.
She noted that the user is bullish long-term, using a bull spread strategy—buying one option and selling another—to reduce risk and cost while increasing leverage, becoming profitable if the price exceeds $2,725 (the breakeven point) at expiry.




