Greeks.live: Currently, the main large transactions are still focused on building and adjusting positions, and institutions have significantly strengthened their layout for put options this month

ChainCatcher news, Greeks.live macro analyst Adam posted that today's largest options block trade was the purchase of BTC put options expiring on April 25, 2025, with a strike price of $60,000, totaling over 1,000 BTC, with a nominal value of nearly $100 million. This deep out-of-the-money position serves as a low-cost extreme risk hedge or high-leverage speculation, requiring a drop of over 30% from the current situation to be profitable.

Currently, the main block trades are still focused on establishing and adjusting positions. This month, institutions have significantly strengthened their layout for put options, indicating that large players are pessimistic about this month's market, and the number of deep out-of-the-money protective positions has noticeably increased.