TechFlow reported on March 19 that according to Lin, Head of APAC Business at Deribit, the Bitcoin options market saw a significant trade today: a user earned $1.494 million by selling call options at $90,000 and put options at $80,000, both expiring at the end of June, amounting to a total of 106 Bitcoin on a single side.
Lin analyzed that this volatility short position was a de-risking move, indicating the trader took profits early on a previously established long volatility position. Market volatility is currently contracting, with implied volatility (IV) declining. However, with the upcoming Federal Open Market Committee (FOMC) interest rate decision, implied volatility may rise again.
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