Greeks.live: Currently, the main block transactions are still mainly for position building and position adjustment. This month, institutions have significantly strengthened their layout of put options.

CoinRank News: Adam, a macro analyst at Greeks.live, wrote that the largest option block trade today was the purchase of a BTC put option with an expiration date of April 25, 2025 and an exercise price of $60,000, with a cumulative transaction of over 1,000 BTC and a nominal face value of nearly $100 million. Deep out-of-the-money is a low-cost extreme risk hedging or high-leverage speculation, and profits need to fall by more than 30% under the current circumstances. At present, the main block trades are still mainly for position building and position adjustment. This month, institutions have significantly strengthened their layout of put options. Large investors are not optimistic about the market this month, and the number of deeply out-of-the-money protective positions has increased significantly.