The large flow was concentrated in the so-called out-of-the-money (OTM) calls at strike levels well above ether’s current market price of $1,633. Whales blocked over 40,000 contracts of ETH December expiry call at $2,200 and nearly 50,000 contracts of October expiry call at $2,000. A block trade is a large transaction negotiated over-the-counter of outside of the exchange’s order book to ensure minimum impact on the market price of the asset. Block traders are considered a proxy for institutional activity.
Source: https://www.coindesk.com/markets/2023/09/18/crypto-whale-takes-150m-bullish-bet-on-ether-trading-data-tracker-shows/?utm_medium=referral&utm_source=rss&utm_campaign=headlines