A $3.2 million 'bitcoin butterfly' option trade bets on $95,000 by the end of October
A notable options trade of the past 24 hours, a $3.17 million "long call butterfly" strategy, indicates expectations for Bitcoin to reach $95,000 by the end of October. The trade involves buying Oct. 30 expiry calls at $90,000 and $100,000 while simultaneously selling twice as many $95,000 calls. The strategy yields the most profit if Bitcoin settles near $95,000 at expiry.
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Source:CoinDesk · Source Link
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