An investor purchased 10,000 ETH of March-end $2,200 Ethereum put options

ChainCatcher news, Deribit Asia Pacific Business Head Lin posted on platform X that today the largest block option for ETH is: an investor purchased 10,000 ETH of put options at $2,200 for the end of March, paying a premium of $1.249 million.

Analysis suggests that this order is a reduction of positions, meaning it is closing out previously sold put options, likely to stop-loss the options early, and it is estimated that they will buy ETH in the spot market to establish a position.