A Historic Record Was Broken in Bitcoin Options: It May Provide a Major Clue About the BTC Price in June and September

Cryptocurrency options analysis company GreeksLive announced in its latest report that the largest block option transaction ever in the Bitcoin market has occurred.

In this transaction, which reached a total notional value of $ 1.19 billion, a position of 11,350 BTC was opened and only $ 7.5 million was paid as a premium.

The block transaction consists of two parts:

• First, with a bullish spread of 3,800 for September maturity, investors are expecting an increase in both price and volatility in the long term.
• Secondly, the sale of June maturity at-the-money (ATM) call options was carried out. This sale, together with the September purchases, creates calendar spreads and shows that the short-term (for June) bullish expectations are limited.

GreeksLive summarized the process as follows:

“This option block transaction of approximately $1.2 billion indicates that the upside movement in June may be limited, while it points to the potential for a strong upside of up to 50% in the third quarter.”

BTC price is trading around 7% lower from its all-time high of $111,970 at the time of writing.

*This is not investment advice.