Downside protection drew most of the money in $BTC options over the last 24 hours. Takers paid $6.3M in premium for puts, which pay off if price falls, against $2.2M for calls, which pay off if it rises.
The two largest trades of the past 48 hours both sat on the Dec 25 expiry and went opposite ways. A $2.1M block sold the $72,000 put, and a $1.9M block bought the $75,000 put. The biggest call trade was a $559.6K block buy of the Nov 27 $85,000 call.
Block trades, negotiated off the order book and reported to the venue, carried 35% of all premium dollars across 15,118 recorded trades.
The two largest trades of the past 48 hours both sat on the Dec 25 expiry and went opposite ways. A $2.1M block sold the $72,000 put, and a $1.9M block bought the $75,000 put. The biggest call trade was a $559.6K block buy of the Nov 27 $85,000 call.
Block trades, negotiated off the order book and reported to the venue, carried 35% of all premium dollars across 15,118 recorded trades.