Greeks.live: The bullish call options in the range of $120,000 to $140,000 remain the most concentrated contracts in October's holdings.

Golden Finance reports that Adam, a macro researcher from Greeks.live, stated in an analysis of the October options market on platform X that call options in the range of $120,000 to $140,000 remain the most concentrated contracts in terms of holdings, with the $120,000 key price level accumulating the highest density of Bitcoin positions. Major participants are focusing on positioning in out-of-the-money call options and strike prices close to recent historical highs. Since September, block trading has been exceptionally active, mainly focusing on monthly and weekly contracts. As we enter October, out-of-the-money options expiring in late October have started to attract attention. In terms of market maker holdings, positions below $120,000 are relatively scarce, and the overall market maker gamma level remains low, indicating that the impact of slight price fluctuations is limited. However, if Bitcoin falls below $110,000, market makers will need to increase their short positions to reduce risk exposure; conversely, if new highs are set, they will need to buy Bitcoin to hedge against risk. As mentioned earlier, $110,000 and the historical high are two key observation points. I still believe that the market environment in October will remain favorable. Several experienced institutional traders have expressed optimistic expectations for the fourth quarter during discussions, and the overall institutional holdings also show a bullish tendency towards the October market.