Large block trading in Bitcoin call options picked up sharply today, with 25,766 BTC call contracts changing hands for a notional value of $1.65 billion, according to Odaily. The most active structure was a long call bull spread expiring at the end of this month, with the $70,000/$72,000 strike pair trading nearly 10,000 lots. That made it the session’s main block options trade.
The analysis cited by Odaily said the timing matters: with roughly two weeks left before month-end, heavy buying in call options sitting about 10% out of the money points to a constructive view on Bitcoin price action in the second half of the month. At the same time, the use of a bull call spread, which carries lower notional exposure than outright call buying, suggests the positioning was more tentative than aggressive.
Odaily’s note added that the market has been quiet for an extended period, and that some rebound would not be unexpected under current conditions. The report did not provide further details on counterparties or venue.
Large block trading in Bitcoin call options surged today, with 25,766 BTC call contracts traded for a total notional value of $1.65 billion, according to Odaily.
The main flow came from a long call bull spread expiring at the end of this month. Nearly 10,000 lots traded in the $70,000/$72,000 structure, making it the day’s primary block options position.
Odaily said the trade was notable because about two weeks remain before month-end. In the analysis cited by the outlet, buying call options roughly 10% out of the money at this size points to a bullish view on market action later this month.
At the same time, the use of a bull call spread, which carries lower notional exposure than outright call purchases, suggests the move was more of a tentative bottom-fishing attempt than a full-scale directional bet.
The analysis also said the market has been quiet for too long, and that a modest rebound would be reasonable under those conditions.
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