TechFlow reported on October 22 that Lin Chen, Head of APAC Business at Deribit, said a user bought 100 BTC worth of put and call options with a strike price of $70,000 expiring at year-end, paying $1.269 million in premium. The position is a volatility long—profitable if the price falls below $58,500 or rises above $86,000 at expiry. The trader likely anticipates significant market volatility following the conclusion of the upcoming election and the inauguration of a new leader. Currently, the DVOL volatility index stands at 55.77 and is expected to rise further as the election approaches.
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