Institutional $1.74B Bitcoin Options Bet Targets $100K-$112K by Year-End

An institutional trader executed a massive options position of 20,000 BTC (worth $1.74 billion) on Deribit via Paradigm on Nov. 24. This ranks as one of the largest single options trades seen this year. The trade uses a call condor structure, a complex options strategy that profits if Bitcoin lands within a specific price range, with strikes at $100,000, $106,000, $112,000, and $118,000, all expiring Dec. 26, 2025. According to Deribit’s official analysis, the positioning reflects bullish expectations th ...