TechFlow news, October 29 — Lin Chen, Head of APAC Business at Deribit, posted on X stating that today's largest BTC block options trade involved a user selling January-end 70,000 USD put options and buying 60,000 USD put options, totaling 250 BTC, generating a premium income of 1.043 million USD.
According to her, the user is structurally bullish on BTC and will profit if Bitcoin's price exceeds 66,000 USD at expiry, yielding an annualized return of approximately 46%. If Bitcoin's price drops below 70,000 USD by the end of January next year, the user is willing to buy in at that price, while hedging extreme downside risk with the 60,000 USD put option.
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