Greeks.live: At present, the main bulk trading is still dominated by position building and adjustment. This month, institutions have significantly strengthened their layout for put options

Macro analyst Adam from Greeks.live stated that the largest block trade today was a purchase of BTC put options expiring on April 25, 2025, with an exercise price of $60,000. The cumulative transaction exceeded 1,000 BTC, with a nominal value close to one hundred million dollars. This deep out-of-the-money position represents low-cost extreme risk hedging or high-leverage speculation and requires a drop of more than 30% under current conditions to profit.

At present, the main bulk trades are still primarily for establishing and adjusting positions. Institutions have significantly strengthened their layout for put options this month. Large traders are not optimistic about this month's market trend and there has been an obvious increase in protective positions that are deep out-of-the-money.