Data shared by market analyst Chang shows that early Wednesday, market participants traded 550 contracts of BTC $45,000 strike call option expiring in March 2024 on Deribit. Buyers, expecting a continued price rally in bitcoin in the coming months, paid a cumulative premium of $1.5 million for the bullish bets. On Deribit, one options contract represents one BTC.
Source: https://www.coindesk.com/markets/2023/11/22/crypto-traders-load-up-on-bitcoin-topside-option-plays-after-binances-gulity-plea/?utm_medium=referral&utm_source=rss&utm_campaign=headlines