Analysis: Bitcoin’s large-lot bullish options saw $1.65 billion in trading volume today, and traders are optimistic about late-month price action.

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BlockBeats news, July 16, Greeks.live researcher Adam posted that today there was a sharp increase in large-scale bullish options trading on Bitcoin, with a total of 25,766 BTC bullish options contracts traded, with a notional value of about $1.65 billion. Among them, the 70,000/72,000 USD buy call bull call spread expiring at the end of this month saw nearly 10 thousand sets of trades, making it the most actively traded contract.

Adam said that with only about two weeks left until the end-of-month expiration, large-scale buying of out-of-the-money call options about 10% above the current price reflects optimistic expectations for the market in the latter part of this month; however, the use of the relatively lower-cost bull call spread strategy also indicates that funds are still primarily making tentative positioning rather than aggressively betting.

BTC-1.31%
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