After the Binance attack, BTC options block-trading volume on Paradigm reached about $590 million over roughly 8 hours, with trading flow skewed toward put options.

That was equivalent to about half the BTC options block-trading volume on Deribit over the same period. The first trade took place about 15 minutes after funds began leaving Binance wallets and before the news was made public.

At the time, a buyer purchased 250 put options expiring on 10/31 with a strike price of $78,000. During the busiest trading hour, two other block trades, each involving 1,000 contracts expiring in mid-November with a strike price of $74,000, had a combined notional value of about $155 million.

According to Paradigm, buying activity is concentrated at strike prices near the spot price, between $74,000 and $78,000, suggesting a preference for hedging against a short-term decline rather than betting on a crash. Velo data shows that the one-week BTC put skew at times rose to around 18%.

Source: https://tintucbitcoin.com/590-trieu-usd-quyen-chon-btc-giao-dich-khoi-sau-vu-hack-binance/

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