A bold bet in the place of Blackrock Bitcoin
ETF (IBIT) crossed the tape on Tuesday, which suggests expectations for a “moon shooting” or a rapid increase in prices in the world’s largest public fund at the end of the month.
On Tuesday, a merchant collected 3,000 contracts for the Ibit $ 77 strike purchase option that expired on June 27, according to Data Source Barchart.com. The merchant paid a total premium of $ 39,000 for the Alcista exhibition.
A purchase option gives the buyer the right, but not the obligation, to buy the underlying asset at a predetermined price at a later date or before. A call buyer is implicitly optimistic in the market.
The $ 77 strike call represents a commitment that prices will cross that level before expiration. In other words, Bitcoin’s follow -up ETF is expected, which closed on Tuesday at $ 60.40, recovered by more than 28% before June 27.
Macro of Endgame of pseudonym observer described him as a high -conviction commitment in a bullish rupture.
“With Ibit quoting around $ 60.40 and the $ 77 strike that is approximately 28% of the money [above the spot price]This merchant anticipates an important catalyst as an increase in ETF inputs, a macro pivot or a regulatory green light or are covering a much larger directional exposure, “said Endgame Macro.
“Whether a calculated moon shot or part of a broader positioning strategy, one thing is clear: they expect a serious volatility before June 27,” added macro.
Bull WOTH Returns
In general, the mood in the Ibit options market changed Alcista on Tuesday, with the one -year bias that became negative, according to the Data Source Market market.
The negative change indicates that the calls, which offer asymmetric exhibition on the rise, are being operated again more expensive than the puts,
The renovated bullish change follows a brief period since last week when the positions are negotiated with a premium to the calls, which reflects the fears down.
