Large BTC Options Purchase Ahead of US Election

According to Odaily, Lin Chen, Deribit’s Head of Business for the Asia-Pacific region, announced on X that a significant BTC options transaction took place today. A user purchased 150 BTC call options with a strike price of $65,000, set to expire on November 8, the day after the US election. The premium paid for these options was $625,000. The user is bullish on BTC, anticipating positive news around the election period. For the options to be profitable, BTC’s price must exceed $69,700 at expiration.

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