Wallet buys 800 bitcoin $90K call options with $68M notional
- —The position is the largest BTC open interest on the Derive platform
- —The $68M figure is strike-based notional, not the actual purchase cost
- —Selling two call series brought in roughly $940,000 in premium
- —Derive-implied odds of BTC above $100K by Christmas rose to 12% from 9.7%
Why it matters: The large upside bet signals demand for BTC gains, though short-dated 25-delta skew on Deribit still favors puts.
Source: TokenPost